Canada Pension Plan Investment Board Sells 33,700 Shares of Newell Brands Inc. (NASDAQ:NWL)

Canada Pension Plan Investment Board lowered its holdings in Newell Brands Inc. (NASDAQ:NWL) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,093,400 shares of the company’s stock after selling 33,700 shares during the period. Canada Pension Plan Investment Board’s holdings in Newell Brands were worth $10,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Newell Brands by 233.6% during the fourth quarter. FMR LLC now owns 14,527,609 shares of the company’s stock worth $144,695,000 after acquiring an additional 10,172,696 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Newell Brands in the 4th quarter valued at about $72,431,000. Norges Bank bought a new stake in shares of Newell Brands in the 4th quarter valued at about $37,174,000. FIL Ltd lifted its stake in Newell Brands by 109.2% in the 4th quarter. FIL Ltd now owns 5,720,884 shares of the company’s stock valued at $56,980,000 after purchasing an additional 2,986,426 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Newell Brands by 214.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company’s stock worth $33,357,000 after purchasing an additional 2,282,949 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Price Performance

NASDAQ:NWL opened at $4.70 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -9.04, a P/E/G ratio of 0.95 and a beta of 0.84. Newell Brands Inc. has a 52 week low of $4.22 and a 52 week high of $11.78. The firm’s 50-day simple moving average is $6.11 and its 200 day simple moving average is $8.23.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands’s dividend payout ratio (DPR) is currently -53.85%.

Analyst Ratings Changes

A number of analysts have recently issued reports on NWL shares. Wells Fargo & Company cut their price objective on Newell Brands from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada cut their price target on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on shares of Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Citigroup cut their target price on shares of Newell Brands from $7.75 to $4.75 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Canaccord Genuity Group decreased their price target on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has a consensus rating of “Hold” and an average target price of $9.14.

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.