Argent Trust Co Makes New $142,000 Investment in Newell Brands Inc. (NASDAQ:NWL)

Argent Trust Co purchased a new stake in Newell Brands Inc. (NASDAQ:NWL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 22,191 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds have also recently modified their holdings of NWL. Janney Montgomery Scott LLC raised its stake in Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock worth $620,000 after buying an additional 10,240 shares in the last quarter. Elm Ridge Management LLC increased its holdings in shares of Newell Brands by 9.0% in the 4th quarter. Elm Ridge Management LLC now owns 111,717 shares of the company’s stock valued at $970,000 after acquiring an additional 9,179 shares during the period. ARGA Investment Management LP raised its position in shares of Newell Brands by 30.6% in the 1st quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock worth $5,522,000 after acquiring an additional 161,313 shares in the last quarter. M&G Plc purchased a new stake in shares of Newell Brands during the 1st quarter worth $9,992,000. Finally, Texas Permanent School Fund Corp boosted its position in Newell Brands by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock valued at $2,673,000 after purchasing an additional 4,291 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

NWL has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company raised their target price on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price target 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. Truist Financial increased their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Canaccord Genuity Group boosted their target price on Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.82.

Newell Brands Trading Down 0.5 %

Shares of NASDAQ:NWL opened at $7.44 on Friday. The business has a 50-day moving average price of $7.33 and a 200-day moving average price of $7.35. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -10.33, a PEG ratio of 1.27 and a beta of 0.91. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.47. 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 EPS for the quarter, beating the consensus estimate 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 negative net margin of 3.43% and a positive return on equity of 13.04%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Equities analysts predict that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.76%. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Newell Brands 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.