LPL Financial LLC Raises Position in Newell Brands Inc. (NASDAQ:NWL)

LPL Financial LLC grew its holdings in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 70.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,075 shares of the company’s stock after purchasing an additional 72,617 shares during the quarter. LPL Financial LLC’s holdings in Newell Brands were worth $2,303,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fairfield Bush & CO. purchased a new stake in shares of Newell Brands during the 1st quarter worth $26,000. Canada Pension Plan Investment Board lifted its holdings in shares of Newell Brands by 711.7% in the first quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock valued at $88,000 after purchasing an additional 3,601 shares in the last quarter. Ellevest Inc. lifted its holdings in shares of Newell Brands by 40.4% in the third quarter. Ellevest Inc. now owns 4,836 shares of the company’s stock valued at $67,000 after purchasing an additional 1,392 shares in the last quarter. RFP Financial Group LLC purchased a new position in shares of Newell Brands during the fourth quarter valued at approximately $73,000. Finally, Covestor Ltd boosted its holdings in shares of Newell Brands by 195.8% in the 1st quarter. Covestor Ltd now owns 6,900 shares of the company’s stock valued at $148,000 after purchasing an additional 4,567 shares during the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NWL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 24th. Raymond James reduced their target price on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating for the company in a report on Monday, February 13th. Barclays dropped 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 note on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft lowered their price target on Newell Brands from $14.00 to $13.00 in a research report on Monday, May 1st. Finally, Royal Bank of Canada lowered their price target on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, February 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and an average price target of $17.18.

Newell Brands Stock Performance

NASDAQ:NWL opened at $8.69 on Monday. Newell Brands Inc. has a 1 year low of $8.65 and a 1 year high of $21.88. The firm has a 50 day moving average of $11.46 and a 200-day moving average of $13.10. The company has a current ratio of 1.23, a quick ratio of 0.55 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $3.60 billion, a P/E ratio of -29.96 and a beta of 0.92.

Newell Brands (NASDAQ:NWL – Get Rating) last posted its earnings results on Friday, April 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Newell Brands had a negative net margin of 1.31% and a positive return on equity of 13.59%. The business’s revenue was down 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts anticipate that Newell Brands Inc. will post 0.97 EPS for the current fiscal year.

Newell Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Tuesday, May 30th. Newell Brands’s dividend payout ratio is currently -317.23%.

Insider Activity at Newell Brands

In related news, CFO Mark J. Erceg purchased 9,515 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average price of $9.99 per share, with a total value of $95,054.85. Following the completion of the acquisition, the chief financial officer now directly owns 153,140 shares in the company, valued at approximately $1,529,868.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark J. Erceg acquired 28,282 shares of the stock in a transaction dated Thursday, March 9th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $367,666.00. Following the purchase, the chief financial officer now directly owns 94,982 shares of the company’s stock, 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. Also, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $9.99 per share, for a total transaction of $95,054.85. Following the purchase, the chief financial officer now owns 153,140 shares in the company, valued at approximately $1,529,868.60. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.

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.