Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Newell Brands Inc. (NASDAQ:NWL) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 487,802 shares of the company’s stock after selling 136,124 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Newell Brands worth $3,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in Newell Brands by 17.7% in the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock worth $90,054,000 after purchasing an additional 2,109,892 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 during the period. Deprince Race & Zollo Inc. grew its stake in Newell Brands by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after acquiring an additional 137,441 shares during the period. Victory Capital Management Inc. grew its stake in Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after acquiring an additional 4,637,180 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Newell Brands by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 2,820,147 shares of the company’s stock worth $18,077,000 after acquiring an additional 215,759 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $10.00 in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective 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, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.10.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Newell Brands Stock Up 2.0 %

NWL stock opened at $9.12 on Friday. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.68. The firm has a market cap of $3.79 billion, a PE ratio of -15.20, a PEG ratio of 0.83 and a beta of 0.89. The firm’s 50 day moving average price is $8.10 and its 200-day moving average price is $7.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts anticipate that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio is presently -46.67%.

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.