Sanctuary Advisors LLC Takes Position in Newell Brands Inc. (NASDAQ:NWL)

Sanctuary Advisors LLC purchased a new position in shares of Newell Brands Inc. (NASDAQ:NWL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,140 shares of the company’s stock, valued at approximately $116,000.

Several other hedge funds have also recently modified their holdings of the stock. Quarry LP raised its holdings in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares in the last quarter. Millennium Management LLC raised its stake in shares of Newell Brands by 65.9% during the 2nd quarter. Millennium Management LLC now owns 924,973 shares of the company’s stock worth $5,929,000 after buying an additional 367,481 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Newell Brands by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after buying an additional 137,441 shares during the period. EVR Research LP lifted its holdings in shares of Newell Brands by 340.0% in the 2nd quarter. EVR Research LP now owns 660,000 shares of the company’s stock valued at $4,231,000 after buying an additional 510,000 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Newell Brands by 106.7% in the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock valued at $16,042,000 after buying an additional 1,314,514 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on NWL shares. JPMorgan Chase & Co. cut their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.91.

Newell Brands Stock Down 1.9 %

NWL stock opened at $7.72 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The company’s 50 day simple moving average is $7.40 and its 200-day simple moving average is $7.31. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $9.24. The firm has a market capitalization of $3.21 billion, a PE ratio of -10.72, a P/E/G ratio of 1.29 and a beta of 0.91.

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

Newell Brands Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.63%. Newell Brands’s dividend payout ratio is currently -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.