Pictet Asset Management SA Trims Position in Newell Brands Inc. (NASDAQ:NWL)

Pictet Asset Management SA lessened its stake in shares of Newell Brands Inc. (NASDAQ:NWLGet Rating) by 2.9% in the second quarter, Holdings Channel reports. The institutional investor owned 180,977 shares of the company’s stock after selling 5,320 shares during the quarter. Pictet Asset Management SA’s holdings in Newell Brands were worth $3,446,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CX Institutional purchased a new position in shares of Newell Brands during the second quarter worth about $25,000. Tcwp LLC bought a new stake in Newell Brands in the 1st quarter worth approximately $26,000. Fairfield Bush & CO. bought a new stake in Newell Brands in the 1st quarter worth approximately $26,000. Triumph Capital Management bought a new stake in Newell Brands in the 2nd quarter worth approximately $32,000. Finally, Bay Harbor Wealth Management LLC bought a new stake in Newell Brands in the 2nd quarter worth approximately $60,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling

In related news, Director Brett Icahn sold 71,304 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total value of $1,204,324.56. Following the sale, the director now directly owns 953,003 shares of the company’s stock, valued at $16,096,220.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Courtney Mather sold 50,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $18.17, for a total value of $908,500.00. Following the sale, the director now directly owns 10,691 shares of the company’s stock, valued at $194,255.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brett Icahn sold 71,304 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $16.89, for a total value of $1,204,324.56. Following the completion of the sale, the director now directly owns 953,003 shares in the company, valued at $16,096,220.67. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NWL shares. JPMorgan Chase & Co. dropped their target price on Newell Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 13th. TheStreet downgraded Newell Brands from a “b-” rating to a “c+” rating in a research report on Monday, September 26th. Wells Fargo & Company dropped their target price on Newell Brands from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, October 3rd. UBS Group lowered their price objective on Newell Brands from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, September 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Newell Brands from $21.00 to $17.00 in a research report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.56.

Newell Brands Price Performance

NWL opened at $13.35 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.64 and a current ratio of 1.25. Newell Brands Inc. has a 52-week low of $12.24 and a 52-week high of $26.45. The stock has a market capitalization of $5.52 billion, a PE ratio of 10.04 and a beta of 0.84. The stock’s 50 day moving average price is $14.37 and its 200-day moving average price is $17.28.

Newell Brands (NASDAQ:NWLGet Rating) last posted its earnings results on Friday, October 28th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. Newell Brands had a return on equity of 20.03% and a net margin of 5.66%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was down 19.2% compared to the same quarter last year. On average, equities research analysts predict that Newell Brands Inc. will post 1.58 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 6.89%. Newell Brands’s dividend payout ratio (DPR) is presently 69.17%.

Newell Brands Profile

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Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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