Newell Brands Inc. (NASDAQ:NWL) Shares Purchased by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,723,079 shares of the company’s stock after acquiring an additional 674,015 shares during the period. Primecap Management Co. CA owned about 3.54% of Newell Brands worth $113,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc boosted its holdings in Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after purchasing an additional 1,345 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after buying an additional 1,762 shares during the period. Arizona State Retirement System grew its position 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 valued at $745,000 after buying an additional 2,394 shares during the last quarter. Tidal Investments LLC raised its stake in Newell Brands by 3.0% during the first quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after acquiring an additional 2,407 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Newell Brands by 9.9% in the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after acquiring an additional 2,490 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NWL. Truist Financial upped their target price on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. cut their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada boosted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.10.

Newell Brands Trading Up 1.1 %

Newell Brands stock opened at $8.94 on Friday. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $9.68. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock has a market capitalization of $3.72 billion, a PE ratio of -14.90, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The firm has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $7.54.

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

Newell Brands Dividend Announcement

The firm 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 $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Buying and Selling at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is owned by corporate insiders.

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.