Rhumbline Advisers Sells 10,818 Shares of Newell Brands Inc. (NASDAQ:NWL)

Rhumbline Advisers reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 806,614 shares of the company’s stock after selling 10,818 shares during the quarter. Rhumbline Advisers’ holdings in Newell Brands were worth $5,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Newell Brands by 399.0% in the first quarter. GAMMA Investing LLC now owns 100,589 shares of the company’s stock worth $624,000 after acquiring an additional 80,431 shares during the period. Wellington Management Group LLP bought a new position in Newell Brands in the 4th quarter worth approximately $3,858,000. Wealth Enhancement Advisory Services LLC boosted its stake in Newell Brands by 70.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,683 shares of the company’s stock worth $644,000 after purchasing an additional 26,688 shares during the period. QSM Asset Management Ltd purchased a new stake in Newell Brands during the 4th quarter valued at approximately $8,089,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Newell Brands during the fourth quarter valued at approximately $1,942,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NWL. Citigroup decreased their price target on shares of Newell Brands from $7.75 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Truist Financial decreased their target price on Newell Brands from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price target on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group reduced their price objective on Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Barclays increased their target price on Newell Brands from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.42.

Newell Brands Price Performance

NASDAQ NWL opened at $5.43 on Friday. The company has a market cap of $2.27 billion, a PE ratio of -10.44, a P/E/G ratio of 0.95 and a beta of 0.97. The firm’s 50 day moving average price is $5.23 and its 200-day moving average price is $7.41. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. Newell Brands Inc. has a 52-week low of $4.22 and a 52-week high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The company’s revenue was down 5.3% compared to the same quarter last year. Sell-side analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.16%. Newell Brands’s payout ratio is -47.46%.

Newell Brands Company Profile

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.