The Manufacturers Life Insurance Company Has $567,000 Holdings in Newell Brands Inc. (NASDAQ:NWL)

The Manufacturers Life Insurance Company decreased its position in Newell Brands Inc. (NASDAQ:NWL) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 88,410 shares of the company’s stock after selling 4,266 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Newell Brands were worth $567,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Newell Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock valued at $389,670,000 after purchasing an additional 739,295 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Newell Brands by 17.7% in the second 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 last quarter. Dimensional Fund Advisors LP lifted its position 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 buying an additional 2,668,384 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Newell Brands by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after acquiring an additional 137,441 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Newell Brands by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,820,147 shares of the company’s stock valued at $18,077,000 after acquiring an additional 215,759 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Trading Up 0.3 %

Newell Brands stock opened at $7.49 on Wednesday. The firm has a 50-day moving average of $7.35 and a 200-day moving average of $7.30. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -10.40, a P/E/G ratio of 1.29 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) 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 company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Truist Financial raised their target price 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. Canaccord Genuity Group boosted their price target on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.91.

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.