Newell Brands Inc. (NASDAQ:NWL) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 13,240.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,844 shares of the company’s stock after purchasing an additional 214,226 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Newell Brands worth $2,154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NWL. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands in the fourth quarter worth $72,431,000. Victory Capital Management Inc. raised its holdings in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Newell Brands by 18.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after acquiring an additional 2,634,114 shares during the last quarter. FMR LLC raised its holdings in shares of Newell Brands by 21.5% in the third quarter. FMR LLC now owns 4,354,913 shares of the company’s stock worth $33,446,000 after acquiring an additional 770,717 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after acquiring an additional 674,015 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Newell Brands Price Performance

NWL stock opened at $6.80 on Friday. The stock has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $8.62. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $11.78. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. The company has a market cap of $2.83 billion, a PE ratio of -13.08, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.07 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.12%. Newell Brands’s dividend payout ratio (DPR) is currently -53.85%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Citigroup dropped their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a research note on Monday, February 10th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Royal Bank of Canada dropped their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, February 10th. Finally, UBS Group upped their target price on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus target price of $10.81.

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.