AQR Capital Management LLC Buys 1,314,514 Shares of Newell Brands Inc. (NASDAQ:NWL)

AQR Capital Management LLC boosted its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 106.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,546,418 shares of the company’s stock after buying an additional 1,314,514 shares during the quarter. AQR Capital Management LLC owned 0.61% of Newell Brands worth $16,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock worth $620,000 after purchasing an additional 10,240 shares during the last quarter. Elm Ridge Management LLC lifted its position in shares of Newell Brands by 9.0% during the fourth quarter. Elm Ridge Management LLC now owns 111,717 shares of the company’s stock worth $970,000 after purchasing an additional 9,179 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Newell Brands by 30.6% during the first quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock valued at $5,522,000 after purchasing an additional 161,313 shares during the period. M&G Plc bought a new position in shares of Newell Brands in the first quarter worth about $9,992,000. Finally, Texas Permanent School Fund Corp increased its stake in Newell Brands by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock worth $2,673,000 after buying an additional 4,291 shares during the period. Institutional investors own 92.50% of the company’s stock.

Newell Brands Trading Down 2.0 %

NASDAQ NWL opened at $7.53 on Wednesday. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $9.24. The company has a 50 day moving average price of $7.45 and a 200 day moving average price of $7.32. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. The firm has a market cap of $3.13 billion, a PE ratio of -10.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, sell-side analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio is presently -38.89%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NWL shares. Royal Bank of Canada increased their price objective 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. 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. Canaccord Genuity Group lifted their price objective on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price 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 upped their price target on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.82.

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.