King Luther Capital Management Corp reduced its holdings in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,922,627 shares of the company’s stock after selling 333,617 shares during the quarter. King Luther Capital Management Corp’s holdings in Newell Brands were worth $7,152,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new stake in Newell Brands in the third quarter worth $54,000. HighPoint Advisor Group LLC acquired a new stake in Newell Brands in the fourth quarter worth $39,000. CreativeOne Wealth LLC acquired a new stake in Newell Brands in the third quarter worth $54,000. Citizens Financial Group Inc. RI acquired a new stake in Newell Brands in the fourth quarter worth $39,000. Finally, one8zero8 LLC acquired a new stake in Newell Brands in the third quarter worth $57,000. 92.50% of the stock is currently owned by institutional investors.
Newell Brands Stock Up 1.7%
Shares of NASDAQ NWL opened at $3.66 on Thursday. Newell Brands Inc. has a one year low of $3.07 and a one year high of $6.64. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.04 and a quick ratio of 0.51. The business’s fifty day moving average price is $3.85 and its 200-day moving average price is $3.96. The stock has a market capitalization of $1.56 billion, a PE ratio of -5.46, a P/E/G ratio of 4.42 and a beta of 1.06.
Newell Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, May 29th. Newell Brands’s dividend payout ratio (DPR) is presently -41.79%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Royal Bank Of Canada set a $4.00 price target on Newell Brands in a report on Thursday, April 9th. Canaccord Genuity Group increased their price target on Newell Brands from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group increased their price target on Newell Brands from $3.75 to $4.25 and gave the stock a “neutral” rating in a report on Monday, May 4th. Barclays cut their price target on Newell Brands from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Newell Brands in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.94.
Get Our Latest Stock Report on NWL
Insiders Place Their Bets
In other Newell Brands news, insider Melanie Arlene Huet sold 91,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $4.50, for a total transaction of $409,500.00. Following the completion of the sale, the insider owned 867 shares of the company’s stock, valued at $3,901.50. This represents a 99.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradford R. Turner sold 100,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $3.60, for a total transaction of $360,000.00. Following the sale, the insider directly owned 464,449 shares of the company’s stock, valued at $1,672,016.40. The trade was a 17.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.64% of the stock is owned by company insiders.
Newell Brands Company Profile
Newell Brands Inc, trading on NASDAQ under the ticker NWL, is a global consumer goods company known for its diverse portfolio of household, commercial, and specialty products. Formed through the merger of Newell Rubbermaid and Jarden Corporation in 2016, the company traces its roots back to Newell Manufacturing, which was founded in 1903. Headquartered in Atlanta, Georgia, Newell Brands has built a reputation for widely recognized brands spanning multiple consumer categories.
The company’s business activities are organized across several segments, including writing and creative expression, home solutions, commercial products, and outdoor recreation.
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