AlphaCrest Capital Management LLC Sells 49,255 Shares of Newell Brands Inc. (NASDAQ:NWL)

AlphaCrest Capital Management LLC cut its position in Newell Brands Inc. (NASDAQ:NWLGet Rating) by 35.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,992 shares of the company’s stock after selling 49,255 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Newell Brands were worth $1,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC grew its stake in Newell Brands by 27.9% in the 1st quarter. Pzena Investment Management LLC now owns 36,251,194 shares of the company’s stock valued at $776,138,000 after buying an additional 7,908,772 shares in the last quarter. BlackRock Inc. lifted its holdings in Newell Brands by 12.1% during the 4th quarter. BlackRock Inc. now owns 51,926,047 shares of the company’s stock worth $1,134,067,000 after purchasing an additional 5,587,736 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Newell Brands by 22.7% in the 1st quarter. Victory Capital Management Inc. now owns 13,883,107 shares of the company’s stock worth $297,392,000 after purchasing an additional 2,570,290 shares during the period. JPMorgan Chase & Co. grew its holdings in Newell Brands by 11.1% during the 4th quarter. JPMorgan Chase & Co. now owns 22,278,120 shares of the company’s stock valued at $486,555,000 after buying an additional 2,218,560 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Newell Brands by 39.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,621,562 shares of the company’s stock worth $166,455,000 after buying an additional 2,169,434 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Newell Brands Price Performance

NWL stock opened at $18.53 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 1.03. The firm has a market cap of $7.66 billion, a P/E ratio of 10.90 and a beta of 0.75. The firm’s fifty day moving average is $19.88 and its 200 day moving average is $21.33. Newell Brands Inc. has a 52 week low of $17.40 and a 52 week high of $26.45.

Newell Brands (NASDAQ:NWLGet Rating) last released its earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.54 billion. Newell Brands had a return on equity of 19.96% and a net margin of 6.89%. Newell Brands’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. Research analysts predict that Newell Brands Inc. will post 1.84 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.92 annualized dividend and a yield of 4.96%. Newell Brands’s payout ratio is currently 54.12%.

Wall Street Analysts Forecast Growth

NWL has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Newell Brands from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Newell Brands from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, June 21st. Barclays cut their price objective on Newell Brands from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, August 2nd. Morgan Stanley lowered their target price on shares of Newell Brands from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Finally, UBS Group cut their price target on shares of Newell Brands from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.86.

Newell Brands Profile

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Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

See Also

Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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