US Bancorp DE Sells 4,482 Shares of Newell Brands Inc. (NASDAQ:NWL)

US Bancorp DE decreased its holdings in Newell Brands Inc. (NASDAQ:NWLGet Rating) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,519 shares of the company’s stock after selling 4,482 shares during the period. US Bancorp DE’s holdings in Newell Brands were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Lazard Asset Management LLC grew its holdings in shares of Newell Brands by 254.4% during the second quarter. Lazard Asset Management LLC now owns 2,610,421 shares of the company’s stock valued at $49,702,000 after buying an additional 1,873,854 shares during the last quarter. State Street Corp raised its position in shares of Newell Brands by 6.6% in the first quarter. State Street Corp now owns 21,398,665 shares of the company’s stock worth $458,145,000 after acquiring an additional 1,330,465 shares during the period. Pzena Investment Management LLC raised its position in shares of Newell Brands by 3.6% during the 2nd quarter. Pzena Investment Management LLC now owns 37,569,337 shares of the company’s stock worth $715,320,000 after purchasing an additional 1,318,143 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Newell Brands by 12.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,705,726 shares of the company’s stock worth $165,757,000 after purchasing an additional 940,320 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Newell Brands by 24.5% during the 1st quarter. Bank of America Corp DE now owns 3,405,566 shares of the company’s stock worth $72,913,000 after purchasing an additional 669,232 shares during the last quarter. Institutional investors own 92.31% of the company’s stock.

Newell Brands Price Performance

NWL opened at $15.05 on Friday. The company has a 50 day moving average of $13.58 and a two-hundred day moving average of $15.44. Newell Brands Inc. has a 52-week low of $12.24 and a 52-week high of $26.45. The company has a quick ratio of 0.64, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The company has a market cap of $6.22 billion, a P/E ratio of 11.32 and a beta of 0.82.

Newell Brands (NASDAQ:NWLGet Rating) last posted its quarterly 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. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Newell Brands had a net margin of 5.66% and a return on equity of 20.03%. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. On average, analysts expect that Newell Brands Inc. will post 1.58 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were given a $0.23 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 6.11%. Newell Brands’s dividend payout ratio is presently 69.17%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TheStreet cut shares of Newell Brands from a “b-” rating to a “c+” rating in a research note on Monday, September 26th. Raymond James reduced their target price on shares of Newell Brands from $23.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Newell Brands from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, December 6th. Truist Financial reduced their price objective on shares of Newell Brands from $35.00 to $20.00 in a report on Friday, November 4th. Finally, Wells Fargo & Company dropped their target price on shares of Newell Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Newell Brands presently has an average rating of “Hold” and an average price target of $18.11.

Newell Brands Profile

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.

Further Reading

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

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