Federated Hermes Inc. Sells 1,413 Shares of Newell Brands Inc. (NASDAQ:NWL)

Federated Hermes Inc. decreased its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,058 shares of the company’s stock after selling 1,413 shares during the period. Federated Hermes Inc.’s holdings in Newell Brands were worth $564,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NWL. Janney Montgomery Scott LLC raised its holdings in shares of Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock valued at $620,000 after purchasing an additional 10,240 shares during the last quarter. Elm Ridge Management LLC increased its stake in Newell Brands by 9.0% in the 4th quarter. Elm Ridge Management LLC now owns 111,717 shares of the company’s stock valued at $970,000 after buying an additional 9,179 shares during the last quarter. ARGA Investment Management LP lifted its position in Newell Brands by 30.6% during the 1st quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock worth $5,522,000 after buying an additional 161,313 shares in the last quarter. M&G Plc acquired a new position in shares of Newell Brands during the 1st quarter worth about $9,992,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Newell Brands by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock valued at $2,673,000 after acquiring an additional 4,291 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Canaccord Genuity Group raised their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price target 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. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Finally, Truist Financial increased their price target on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. One 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’s stock. According to data from MarketBeat.com, Newell Brands has an average rating of “Hold” and a consensus price target of $8.82.

Newell Brands Stock Performance

NWL opened at $7.25 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.24. The firm has a market cap of $3.01 billion, a P/E ratio of -10.07, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91. The business’s fifty day moving average is $7.35 and its 200-day moving average is $7.34.

Newell Brands (NASDAQ:NWL) last announced 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 the consensus estimate of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts expect that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently -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.