Envestnet Asset Management Inc. grew its position in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 19.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,509 shares of the company’s stock after acquiring an additional 64,733 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Newell Brands were worth $5,410,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Newell Brands during the first quarter worth $26,000. Private Trust Co. NA acquired a new stake in shares of Newell Brands during the second quarter worth $33,000. Koshinski Asset Management Inc. acquired a new stake in shares of Newell Brands during the third quarter worth $205,000. CoreCap Advisors LLC acquired a new stake in shares of Newell Brands during the second quarter worth $38,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Newell Brands during the third quarter worth $34,000. 92.31% of the stock is owned by institutional investors and hedge funds.
Newell Brands Trading Up 1.0 %
Shares of NWL stock opened at $14.53 on Friday. Newell Brands Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $24.70. The stock has a market cap of $6.01 billion, a P/E ratio of 28.49 and a beta of 0.94. The business has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $14.47. The company has a quick ratio of 0.60, a current ratio of 1.32 and a debt-to-equity ratio of 1.35.
Newell Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Monday, February 27th. Newell Brands’s dividend payout ratio is currently 180.39%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Newell Brands from $15.00 to $17.00 in a report on Monday, January 30th. Royal Bank of Canada reduced their target price on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, February 13th. Wells Fargo & Company raised their target price on Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, January 24th. Citigroup assumed coverage on Newell Brands in a report on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price for the company. Finally, Morgan Stanley reduced their target price on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.55.
Insider Transactions at Newell Brands
In other Newell Brands news, Director Brett Icahn sold 107,372 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $15.37, for a total transaction of $1,650,307.64. Following the transaction, the director now owns 845,631 shares of the company’s stock, valued at $12,997,348.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
About Newell Brands
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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