Massachusetts Financial Services Co. MA Decreases Holdings in Newell Brands Inc. (NASDAQ:NWL)

Massachusetts Financial Services Co. MA trimmed its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,984,202 shares of the company’s stock after selling 23,916 shares during the period. Massachusetts Financial Services Co. MA owned about 3.37% of Newell Brands worth $89,639,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NWL. Rothschild Investment LLC bought a new position in Newell Brands during the 2nd quarter worth approximately $26,000. Quarry LP grew its position in Newell Brands by 106.2% during the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after acquiring an additional 2,437 shares during the last quarter. NBC Securities Inc. grew its position in Newell Brands by 50.5% during the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after acquiring an additional 1,780 shares during the last quarter. Quest Partners LLC bought a new position in Newell Brands during the 4th quarter worth approximately $45,000. Finally, Gradient Investments LLC bought a new position in Newell Brands during the 2nd quarter worth approximately $46,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Trading Down 1.9 %

NASDAQ NWL opened at $7.33 on Thursday. The stock’s 50 day moving average is $7.28 and its 200 day moving average is $7.35. The firm has a market capitalization of $3.04 billion, a PE ratio of -10.18, a P/E/G ratio of 1.27 and a beta of 0.91. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $9.79. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. Research analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Friday, August 30th. Newell Brands’s payout ratio is -38.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price objective on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.82.

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.