Renaissance Technologies LLC lowered its stake in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 40.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,527 shares of the company’s stock after selling 164,821 shares during the quarter. Renaissance Technologies LLC’s holdings in Newell Brands were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of Newell Brands by 510.3% in the 4th quarter. Intech Investment Management LLC now owns 483,491 shares of the company’s stock valued at $1,799,000 after acquiring an additional 404,269 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Newell Brands during the 1st quarter worth approximately $638,000. Pzena Investment Management LLC grew its position in Newell Brands by 5.0% during the 4th quarter. Pzena Investment Management LLC now owns 50,019,553 shares of the company’s stock worth $186,073,000 after purchasing an additional 2,375,782 shares in the last quarter. Sei Investments Co. raised its stake in Newell Brands by 79.6% during the 1st quarter. Sei Investments Co. now owns 1,062,207 shares of the company’s stock valued at $3,643,000 after purchasing an additional 470,631 shares during the period. Finally, CastleKnight Management LP raised its stake in Newell Brands by 397.9% during the 4th quarter. CastleKnight Management LP now owns 864,914 shares of the company’s stock valued at $3,217,000 after purchasing an additional 691,214 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.
Newell Brands Stock Up 1.1%
NWL opened at $6.24 on Friday. The company has a market capitalization of $2.66 billion, a PE ratio of -11.77, a price-to-earnings-growth ratio of 1.54 and a beta of 0.88. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.11 and a quick ratio of 0.59. Newell Brands Inc. has a fifty-two week low of $3.07 and a fifty-two week high of $7.13. The business has a 50-day moving average of $5.40 and a 200-day moving average of $4.53.
Newell Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, August 31st. Newell Brands’s payout ratio is presently -52.83%.
Insider Buying and Selling at Newell Brands
In other Newell Brands news, insider Bradford R. Turner sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $6.16, for a total transaction of $616,000.00. Following the transaction, the insider directly owned 433,398 shares in the company, valued at $2,669,731.68. This trade represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristine Kay Malkoski sold 10,850 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $3.65, for a total value of $39,602.50. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 211,750 shares of company stock valued at $1,018,896. 1.64% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several analysts have recently commented on NWL shares. Wall Street Zen raised Newell Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Canaccord Genuity Group increased their price objective on Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Morgan Stanley reissued an “underweight” rating and issued a $5.75 price objective on shares of Newell Brands in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newell Brands in a research note on Wednesday. Finally, UBS Group upped their target price on Newell Brands from $4.75 to $5.50 and gave the company a “neutral” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average target price of $6.66.
View Our Latest Research Report on NWL
About Newell Brands
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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