1,269,920 Newell Brands Inc. $NWL Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its holdings in Newell Brands Inc. (NASDAQ:NWL) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,720,744 shares of the company’s stock after selling 1,269,920 shares during the quarter. Pzena Investment Management LLC owned 0.11% of Newell Brands worth $246,686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State of Wyoming bought a new stake in Newell Brands in the 3rd quarter valued at about $60,000. Choreo LLC acquired a new position in shares of Newell Brands during the 3rd quarter worth approximately $87,000. Citizens Financial Group Inc. RI increased its holdings in shares of Newell Brands by 8.7% during the third quarter. Citizens Financial Group Inc. RI now owns 23,445 shares of the company’s stock worth $124,000 after purchasing an additional 1,872 shares during the period. Sterling Capital Management LLC raised its position in shares of Newell Brands by 886.5% in the third quarter. Sterling Capital Management LLC now owns 85,562 shares of the company’s stock valued at $452,000 after buying an additional 76,889 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Newell Brands by 3.4% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 101,490 shares of the company’s stock valued at $536,000 after buying an additional 3,300 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NWL shares. Wall Street Zen upgraded Newell Brands from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Zacks Research raised Newell Brands from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. Royal Bank Of Canada increased their target price on Newell Brands from $4.00 to $5.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Newell Brands from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.62.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $5.86 on Thursday. The company’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $4.86. The firm has a market capitalization of $2.50 billion, a P/E ratio of -7.61, a P/E/G ratio of 0.79 and a beta of 0.88. Newell Brands Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $7.13. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Newell Brands Inc. will post 0.76 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, November 30th. Newell Brands’s dividend payout ratio is presently -36.36%.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.