Millennium Management LLC Has $5.93 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Millennium Management LLC raised its position in Newell Brands Inc. (NASDAQ:NWL) by 65.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,973 shares of the company’s stock after buying an additional 367,481 shares during the quarter. Millennium Management LLC owned 0.22% of Newell Brands worth $5,929,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock valued at $620,000 after buying an additional 10,240 shares in the last quarter. ARGA Investment Management LP lifted its position in shares of Newell Brands by 30.6% during the 1st quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock valued at $5,522,000 after acquiring an additional 161,313 shares during the period. M&G Plc acquired a new stake in shares of Newell Brands during the 1st quarter worth $9,992,000. Texas Permanent School Fund Corp increased its position in shares of Newell Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock worth $2,673,000 after purchasing an additional 4,291 shares during the period. Finally, Empowered Funds LLC acquired a new position in Newell Brands in the first quarter valued at about $80,000. Institutional investors own 92.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial raised their target price on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective 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. Canaccord Genuity Group raised their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. One 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 data from MarketBeat, Newell Brands has an average rating of “Hold” and a consensus target price of $8.82.

Newell Brands Stock Performance

Newell Brands stock opened at $7.51 on Friday. The business has a 50 day moving average of $7.39 and a 200-day moving average of $7.31. The company has a market capitalization of $3.12 billion, a P/E ratio of -10.53, a P/E/G 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 the consensus estimate of $0.21 by $0.15. The firm 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 company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, equities research analysts predict that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.73%. Newell Brands’s payout ratio is -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.