Renaissance Technologies LLC Decreases Holdings in Newell Brands Inc. (NASDAQ:NWL)

Renaissance Technologies LLC decreased its holdings in Newell Brands Inc. (NASDAQ:NWL) by 79.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,927 shares of the company’s stock after selling 740,860 shares during the period. Renaissance Technologies LLC’s holdings in Newell Brands were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NWL. Hsbc Holdings PLC boosted its stake in Newell Brands by 100.1% in the 4th quarter. Hsbc Holdings PLC now owns 189,409 shares of the company’s stock worth $1,644,000 after purchasing an additional 94,729 shares during the period. Treasurer of the State of North Carolina increased its holdings in Newell Brands by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 168,708 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,650 shares during the period. Bank of Nova Scotia purchased a new stake in Newell Brands in the 4th quarter worth approximately $1,306,000. KBC Group NV boosted its holdings in Newell Brands by 86.2% in the 4th quarter. KBC Group NV now owns 44,239 shares of the company’s stock valued at $384,000 after purchasing an additional 20,482 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Newell Brands by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 43,281 shares of the company’s stock valued at $376,000 after purchasing an additional 3,110 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

NWL stock opened at $7.48 on Friday. The firm has a 50-day simple moving average of $7.47 and a two-hundred day simple moving average of $7.32. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.24. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -10.39, a PEG ratio of 1.26 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last posted its 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. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.74%. Newell Brands’s dividend payout ratio is currently -38.89%.

Analysts Set New Price Targets

Several research firms recently commented on NWL. Truist Financial boosted their target price on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted 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. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.