Rhumbline Advisers Sells 26,019 Shares of Newell Brands Inc. (NASDAQ:NWL)

Rhumbline Advisers cut its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 792,687 shares of the company’s stock after selling 26,019 shares during the period. Rhumbline Advisers owned 0.19% of Newell Brands worth $5,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NWL. Philadelphia Trust Co. boosted its holdings in shares of Newell Brands by 0.8% during the fourth quarter. Philadelphia Trust Co. now owns 183,357 shares of the company’s stock worth $1,592,000 after acquiring an additional 1,500 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in Newell Brands by 15.5% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 11,682 shares of the company’s stock valued at $101,000 after purchasing an additional 1,564 shares during the period. Treasurer of the State of North Carolina grew its holdings in Newell Brands by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 168,708 shares of the company’s stock valued at $1,464,000 after buying an additional 1,650 shares in the last quarter. NBC Securities Inc. increased its position in Newell Brands by 50.5% during the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after buying an additional 1,780 shares during the period. Finally, Blueshift Asset Management LLC increased its position in Newell Brands by 11.9% during the 4th quarter. Blueshift Asset Management LLC now owns 17,044 shares of the company’s stock worth $148,000 after buying an additional 1,814 shares during the period. 92.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Royal Bank of Canada raised their target price on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Canaccord Genuity Group upped their price target on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Truist Financial raised their target price on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus target price of $8.82.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $7.83 on Monday. The stock has a market cap of $3.25 billion, a PE ratio of -10.88, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.79. The firm has a fifty day moving average price of $7.18 and a 200-day moving average price of $7.34. 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 released its quarterly earnings data on Friday, July 26th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. Newell Brands’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. Equities analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.58%. Newell Brands’s dividend payout ratio is currently -38.89%.

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.