Cresset Asset Management LLC Sells 73,755 Shares of Newell Brands Inc. (NASDAQ:NWL)

Cresset Asset Management LLC cut its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 65.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,019 shares of the company’s stock after selling 73,755 shares during the period. Cresset Asset Management LLC’s holdings in Newell Brands were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NWL. Castlekeep Investment Advisors LLC bought a new position in Newell Brands during the fourth quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Newell Brands in the 4th quarter valued at approximately $46,000. Smartleaf Asset Management LLC lifted its stake in shares of Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after purchasing an additional 4,617 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Newell Brands in the 4th quarter valued at approximately $101,000. Finally, Seeds Investor LLC bought a new stake in shares of Newell Brands in the 4th quarter valued at approximately $105,000. 92.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NWL has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company lowered their price objective on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. StockNews.com raised Newell Brands from a “sell” rating to a “hold” rating in a research note on Sunday, May 4th. Canaccord Genuity Group reduced their price target on Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Barclays increased their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.42.

Newell Brands Trading Up 1.0%

NWL opened at $5.97 on Friday. The stock’s fifty day moving average is $5.54 and its two-hundred day moving average is $7.89. The company has a market capitalization of $2.49 billion, a P/E ratio of -11.48, a PEG ratio of 0.95 and a beta of 0.92. Newell Brands Inc. has a 52 week low of $4.22 and a 52 week high of $11.78. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The firm’s revenue was down 5.3% compared to the same quarter last year. Analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 4.69%. Newell Brands’s payout ratio is currently -47.46%.

Newell Brands Company Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.