Newell Brands Inc. (NASDAQ:NWL) Stock Position Lifted by Comerica Bank

Comerica Bank grew its position in Newell Brands Inc. (NASDAQ:NWL) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,865 shares of the company’s stock after acquiring an additional 3,250 shares during the quarter. Comerica Bank’s holdings in Newell Brands were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Newell Brands during the fourth quarter worth $46,000. Smartleaf Asset Management LLC raised its stake in Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after acquiring an additional 4,617 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Newell Brands in the fourth quarter worth about $101,000. Seeds Investor LLC acquired a new position in Newell Brands in the fourth quarter valued at approximately $105,000. Finally, Parametrica Management Ltd bought a new position in shares of Newell Brands during the fourth quarter valued at approximately $107,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Price Performance

NASDAQ:NWL opened at $5.22 on Friday. Newell Brands Inc. has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The firm has a market cap of $2.18 billion, a P/E ratio of -10.04, a PEG ratio of 0.95 and a beta of 0.92. The business’s 50-day moving average price is $5.60 and its 200 day moving average price is $7.96.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. The firm’s revenue was down 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.07 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.36%. Newell Brands’s dividend payout ratio (DPR) is -47.46%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NWL. StockNews.com upgraded Newell Brands from a “sell” rating to a “hold” rating in a research report on Sunday, May 4th. Canaccord Genuity Group cut their price objective on shares of Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Truist Financial decreased their target price on shares of Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. UBS Group cut their price target on Newell Brands from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Citigroup decreased their price objective on Newell Brands from $7.75 to $4.75 and set a “neutral” rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus target price of $7.42.

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.