Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 64.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,803 shares of the company’s stock after selling 212,770 shares during the quarter. Edgestream Partners L.P.’s holdings in Newell Brands were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWL. Primecap Management Co. CA boosted its stake in shares of Newell Brands by 17.7% in the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock valued at $90,054,000 after buying an additional 2,109,892 shares during the period. Savoir Faire Capital Management L.P. lifted its stake in Newell Brands by 101.5% in the second quarter. Savoir Faire Capital Management L.P. now owns 345,153 shares of the company’s stock worth $2,212,000 after acquiring an additional 173,824 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 2,668,384 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of Newell Brands by 45.3% during the 2nd quarter. Qsemble Capital Management LP now owns 33,716 shares of the company’s stock worth $216,000 after purchasing an additional 10,511 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Newell Brands by 28.9% during the second quarter. American Century Companies Inc. now owns 27,864 shares of the company’s stock worth $179,000 after purchasing an additional 6,247 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company raised their price target on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their target price on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial increased their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Canaccord Genuity Group increased their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.82.

Newell Brands Trading Down 0.5 %

NASDAQ NWL opened at $7.44 on Friday. The firm’s fifty day moving average is $7.33 and its two-hundred day moving average is $7.35. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. The firm has a market cap of $3.09 billion, a PE ratio of -10.33, a P/E/G ratio of 1.27 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last posted 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. 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 during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $0.24 EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. Analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 3.76%. Newell Brands’s dividend payout ratio (DPR) 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.