CANADA LIFE ASSURANCE Co Sells 21,250 Shares of Newell Brands Inc. (NASDAQ:NWL)

CANADA LIFE ASSURANCE Co cut its holdings in Newell Brands Inc. (NASDAQ:NWL) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,854 shares of the company’s stock after selling 21,250 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Newell Brands were worth $4,495,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Newell Brands by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,992,076 shares of the company’s stock worth $39,761,000 after acquiring an additional 178,028 shares in the last quarter. Amundi boosted its position in Newell Brands by 194.4% during the fourth quarter. Amundi now owns 215,597 shares of the company’s stock worth $2,121,000 after purchasing an additional 142,361 shares during the period. Raymond James Financial Inc. acquired a new position in Newell Brands during the fourth quarter valued at approximately $9,877,000. Empowered Funds LLC raised its position in shares of Newell Brands by 751.9% in the fourth quarter. Empowered Funds LLC now owns 100,251 shares of the company’s stock valued at $999,000 after purchasing an additional 88,483 shares during the period. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in shares of Newell Brands in the fourth quarter worth $434,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Price Performance

Shares of NWL stock opened at $5.12 on Friday. The company has a market capitalization of $2.14 billion, a P/E ratio of -9.85, a P/E/G ratio of 0.95 and a beta of 0.84. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a 12 month low of $4.22 and a 12 month high of $11.78. The stock has a 50 day moving average of $5.93 and a two-hundred day moving average of $8.14.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $0.22 EPS. As a group, equities analysts expect that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -53.85%.

Analyst Upgrades and Downgrades

NWL has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on shares of Newell Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group dropped their price objective on Newell Brands from $8.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Barclays increased their target price on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wells Fargo & Company dropped their price target on Newell Brands from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.92.

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.