Allspring Global Investments Holdings LLC Has $1.41 Million Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Allspring Global Investments Holdings LLC increased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 88,271.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,604 shares of the company’s stock after acquiring an additional 162,420 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Newell Brands were worth $1,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC acquired a new stake in Newell Brands during the 3rd quarter worth $25,000. Authentikos Wealth Advisory LLC bought a new stake in Newell Brands in the third quarter valued at about $51,000. Dynamic Advisor Solutions LLC bought a new stake in Newell Brands in the fourth quarter valued at about $88,000. RFP Financial Group LLC lifted its stake in Newell Brands by 81.1% in the third quarter. RFP Financial Group LLC now owns 10,050 shares of the company’s stock valued at $91,000 after buying an additional 4,500 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Newell Brands during the 4th quarter worth about $94,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Morgan Stanley dropped their price objective on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Royal Bank of Canada decreased their target price on Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Barclays lifted their price objective on Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. Finally, Citigroup lowered their target price on Newell Brands from $9.00 to $7.50 and set a “neutral” rating for the company in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.13.

Newell Brands Price Performance

Shares of NWL opened at $6.94 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47. Newell Brands Inc. has a twelve month low of $6.49 and a twelve month high of $12.32. The stock has a market capitalization of $2.88 billion, a P/E ratio of -7.31, a P/E/G ratio of 1.36 and a beta of 0.95. The company has a 50 day moving average of $7.52 and a 200-day moving average of $7.74.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.56 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 4.03%. Newell Brands’s dividend payout ratio is -29.47%.

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.