Principal Financial Group Inc. Sells 64,294 Shares of Newell Brands Inc. (NASDAQ:NWL)

Principal Financial Group Inc. trimmed its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,962,068 shares of the company’s stock after selling 64,294 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Newell Brands worth $17,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Authentikos Wealth Advisory LLC acquired a new stake in Newell Brands in the 3rd quarter worth approximately $51,000. GAMMA Investing LLC acquired a new stake in shares of Newell Brands in the fourth quarter worth $61,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Newell Brands during the 4th quarter worth $88,000. Prime Capital Investment Advisors LLC acquired a new position in Newell Brands in the 4th quarter valued at $94,000. Finally, Quadrature Capital Ltd bought a new position in Newell Brands in the 3rd quarter worth $108,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Stock Down 2.9 %

NASDAQ NWL opened at $7.98 on Thursday. Newell Brands Inc. has a 1-year low of $6.49 and a 1-year high of $11.61. The stock’s 50 day moving average is $7.68 and its two-hundred day moving average is $7.88. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, equities analysts expect that Newell Brands Inc. will post 0.6 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.07 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a yield of 3.51%. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NWL shares. Barclays upgraded shares of Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target for the company in a report on Tuesday, May 14th. UBS Group lowered Newell Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Morgan Stanley lowered their price objective on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Royal Bank of Canada cut their target price on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Finally, Wells Fargo & Company raised their price target on shares of Newell Brands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.70.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.