Friedenthal Financial Purchases Shares of 76,546 Newell Brands Inc. (NASDAQ:NWL)

Friedenthal Financial acquired a new position in Newell Brands Inc. (NASDAQ:NWL) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 76,546 shares of the company’s stock, valued at approximately $762,000.

Several other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA increased its position in shares of Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after purchasing an additional 674,015 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $75,753,000 after buying an additional 2,668,384 shares during the period. Deprince Race & Zollo Inc. lifted its position in Newell Brands by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after buying an additional 137,441 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Newell Brands by 1.8% during the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after buying an additional 115,459 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the firm’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 completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Newell Brands Stock Down 0.5 %

Shares of NWL traded down $0.05 during midday trading on Monday, reaching $9.71. 5,477,376 shares of the stock were exchanged, compared to its average volume of 4,510,782. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $9.82 and its two-hundred day moving average is $8.20. The company has a market capitalization of $4.04 billion, a P/E ratio of -16.18, a PEG ratio of 1.02 and a beta of 0.89. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78.

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. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 2.88%. Newell Brands’s dividend payout ratio is currently -46.67%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NWL. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Canaccord Genuity Group raised their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.20.

Newell Brands 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.