Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,828 shares of the company’s stock after selling 13,478 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Newell Brands worth $2,037,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in Newell Brands during the second quarter worth about $26,000. Quarry LP increased its holdings in shares of 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 buying an additional 2,437 shares during the last quarter. NBC Securities Inc. raised its position in shares of Newell Brands by 50.5% during the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after buying an additional 1,780 shares during the period. Gradient Investments LLC acquired a new position in Newell Brands in the second quarter valued at approximately $46,000. Finally, Innealta Capital LLC purchased a new position in Newell Brands in the second quarter worth approximately $58,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Stock Down 2.0 %

Shares of NASDAQ NWL opened at $7.53 on Wednesday. The business has a 50-day moving average of $7.45 and a two-hundred day moving average of $7.32. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -10.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.24 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.72%. Newell Brands’s dividend payout ratio is currently -38.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped 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 report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.