Algert Global LLC Sells 251,513 Shares of Newell Brands Inc. (NASDAQ:NWL)

Algert Global LLC lessened its position in Newell Brands Inc. (NASDAQ:NWL) by 85.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,827 shares of the company’s stock after selling 251,513 shares during the period. Algert Global LLC’s holdings in Newell Brands were worth $268,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. lifted its holdings in Newell Brands by 50.5% during the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after purchasing an additional 1,780 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Newell Brands by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock worth $745,000 after buying an additional 2,394 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Newell Brands by 3.0% during the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after buying an additional 2,407 shares during the period. Quarry LP grew its stake in Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Newell Brands by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after acquiring an additional 2,490 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Truist Financial upped 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. Finally, Royal Bank of Canada lifted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Newell Brands presently has an average rating of “Hold” and an average target price of $8.82.

Newell Brands Stock Performance

NASDAQ NWL opened at $7.41 on Thursday. The firm’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $7.31. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -10.46, a P/E/G ratio of 1.26 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.24.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the business posted $0.24 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. As a group, research analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced 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 of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.78%. Newell Brands’s dividend payout ratio (DPR) 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.