Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 43.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,141 shares of the company’s stock after selling 8,679 shares during the quarter. Truist Financial Corp’s holdings in Newell Brands were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NWL. Janney Montgomery Scott LLC increased its holdings in 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 buying an additional 10,240 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Newell Brands by 30.6% in the 1st quarter. ARGA Investment Management LP now owns 687,707 shares of the company’s stock valued at $5,522,000 after acquiring an additional 161,313 shares during the last quarter. M&G Plc acquired a new stake in shares of Newell Brands during the 1st quarter worth about $9,992,000. Texas Permanent School Fund Corp lifted its stake in Newell Brands by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company’s stock worth $2,673,000 after purchasing an additional 4,291 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Newell Brands during the first quarter worth approximately $80,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Performance

NASDAQ NWL opened at $7.87 on Monday. The firm has a market cap of $3.27 billion, a P/E ratio of -10.93, a P/E/G ratio of 1.29 and a beta of 0.91. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.24. The business’s 50-day moving average price is $7.38 and its 200 day moving average price is $7.31. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, July 26th. The company reported $0.36 earnings per share 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 company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was down 7.8% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Friday, August 30th. Newell Brands’s payout ratio is -38.89%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NWL. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted their price target on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Canaccord Genuity Group upped their price objective 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. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their target price on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.91.

About Newell Brands

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.