Allspring Global Investments Holdings LLC Has $425,000 Holdings in Newell Brands Inc. (NASDAQ:NWL)

Allspring Global Investments Holdings LLC trimmed its position in Newell Brands Inc. (NASDAQ:NWLGet Rating) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,599 shares of the company’s stock after selling 2,752 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newell Brands were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC raised its position in Newell Brands by 254.4% in the 2nd 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 holdings 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 valued at $458,145,000 after purchasing an additional 1,330,465 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Newell Brands by 3.6% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Newell Brands by 12.1% during the second 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 grew its position in Newell Brands by 24.5% in the first quarter. Bank of America Corp DE now owns 3,405,566 shares of the company’s stock valued at $72,913,000 after purchasing an additional 669,232 shares in the last quarter. 92.31% of the stock is currently owned by institutional investors.

Newell Brands Stock Up 6.1 %

NWL stock opened at $15.97 on Tuesday. Newell Brands Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $26.45. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 0.64. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.01 and a beta of 0.82. The business’s fifty day moving average price is $13.58 and its two-hundred day moving average price is $15.41.

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

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.76%. The ex-dividend date was Tuesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is currently 69.17%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Newell Brands from $35.00 to $20.00 in a research note on Friday, November 4th. StockNews.com initiated coverage on Newell Brands in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Newell Brands from $16.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, December 6th. Barclays lowered shares of Newell Brands from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $16.00 to $11.00 in a research report on Monday, October 31st. Finally, Wells Fargo & Company cut their target price on shares of Newell Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned 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, Newell Brands has a consensus 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.

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

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