Eagle Bay Advisors LLC Decreases Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Eagle Bay Advisors LLC decreased its position in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 45.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,033 shares of the company’s stock after selling 1,681 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Newell Brands were worth $28,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Newell Brands by 2.9% during the third quarter. BlackRock Inc. now owns 56,524,457 shares of the company’s stock valued at $785,125,000 after buying an additional 1,583,751 shares during the period. Pzena Investment Management LLC increased its position in shares of Newell Brands by 3.7% during the third quarter. Pzena Investment Management LLC now owns 38,954,635 shares of the company’s stock valued at $541,080,000 after buying an additional 1,385,298 shares during the period. State Street Corp increased its position in shares of Newell Brands by 6.6% during the first quarter. State Street Corp now owns 21,398,665 shares of the company’s stock valued at $458,145,000 after buying an additional 1,330,465 shares during the period. Victory Capital Management Inc. increased its position in shares of Newell Brands by 8.6% during the third quarter. Victory Capital Management Inc. now owns 15,489,824 shares of the company’s stock valued at $215,154,000 after buying an additional 1,225,381 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of 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 valued at $165,757,000 after buying an additional 940,320 shares during the period. Hedge funds and other institutional investors own 92.31% of the company’s stock.

Insider Activity at Newell Brands

In related news, CFO Mark J. Erceg acquired 28,282 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average price of $13.00 per share, for a total transaction of $367,666.00. Following the completion of the transaction, the chief financial officer now directly owns 94,982 shares in the company, valued at $1,234,766. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Newell Brands news, Director Brett Icahn sold 107,372 shares of the company’s 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 completion of the sale, the director now directly owns 845,631 shares of the company’s stock, valued at $12,997,348.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark J. Erceg bought 28,282 shares of Newell Brands stock in a transaction on Thursday, March 9th. The shares were acquired at an average cost of $13.00 per share, with a total value of $367,666.00. Following the completion of the acquisition, the chief financial officer now owns 94,982 shares of the company’s stock, valued at approximately $1,234,766. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NWL has been the topic of several research analyst reports. Barclays reduced their price target on shares of Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 14th. Citigroup initiated coverage on shares of Newell Brands in a report on Thursday, February 16th. They issued a “neutral” rating and a $15.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Newell Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, February 13th. Wells Fargo & Company upped their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 24th. Finally, Royal Bank of Canada cut their price objective on shares of Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.55.

Newell Brands Trading Down 3.6 %

Shares of NASDAQ NWL opened at $11.76 on Friday. The firm’s 50 day moving average price is $14.67 and its 200-day moving average price is $14.19. The company has a market cap of $4.86 billion, a PE ratio of 23.06 and a beta of 0.94. Newell Brands Inc. has a 52-week low of $11.68 and a 52-week high of $24.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.60 and a current ratio of 1.32.

Newell Brands (NASDAQ:NWL – Get Rating) last issued its earnings results on Friday, February 10th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion. Newell Brands had a net margin of 2.33% and a return on equity of 17.76%. The business’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. On average, equities research analysts expect that Newell Brands Inc. will post 1.04 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.23 per share. The ex-dividend date was Monday, February 27th. This represents a $0.92 dividend on an annualized basis and a yield of 7.82%. Newell Brands’s dividend payout ratio (DPR) is 180.40%.

Newell Brands Company 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.