The Manufacturers Life Insurance Company Sells 11,188 Shares of Newell Brands Inc. (NASDAQ:NWL)

The Manufacturers Life Insurance Company trimmed its position in Newell Brands Inc. (NASDAQ:NWL) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,222 shares of the company’s stock after selling 11,188 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Newell Brands were worth $593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Newell Brands by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after purchasing an additional 82,337 shares during the period. Citigroup Inc. increased its holdings in Newell Brands by 7.7% in the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock valued at $9,476,000 after purchasing an additional 88,164 shares during the last quarter. Versor Investments LP lifted its stake in Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after buying an additional 56,800 shares during the period. Primecap Management Co. CA boosted its holdings in Newell Brands by 4.8% during the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after buying an additional 674,015 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after buying an additional 2,668,384 shares during the period. 92.50% of the stock is owned by institutional investors.

Newell Brands Trading Down 3.8 %

NASDAQ:NWL opened at $11.01 on Friday. The company has a market cap of $4.58 billion, a P/E ratio of -18.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. The business has a 50 day moving average price of $8.96 and a two-hundred day moving average price of $7.77. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, analysts expect that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is -46.67%.

Wall Street Analysts Forecast Growth

NWL has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Finally, Canaccord Genuity Group boosted their target price on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Transactions at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

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.