CIBC Asset Management Inc Increases Stake in Newell Brands Inc. (NASDAQ:NWL)

CIBC Asset Management Inc increased its stake in Newell Brands Inc. (NASDAQ:NWL) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,346 shares of the company’s stock after purchasing an additional 1,756 shares during the period. CIBC Asset Management Inc’s holdings in Newell Brands were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new position in shares of Newell Brands in the fourth quarter worth about $72,431,000. Victory Capital Management Inc. increased its holdings in Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after buying an additional 4,637,180 shares during the period. Massachusetts Financial Services Co. MA raised its position in Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after buying an additional 2,634,114 shares during the last quarter. FMR LLC lifted its stake in Newell Brands by 21.5% during the 3rd quarter. FMR LLC now owns 4,354,913 shares of the company’s stock valued at $33,446,000 after acquiring an additional 770,717 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of Newell Brands by 4.8% in the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after acquiring an additional 674,015 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Newell Brands Stock Performance

Shares of NWL stock opened at $6.80 on Monday. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The stock’s fifty day moving average is $9.41 and its two-hundred day moving average is $8.64. The firm has a market capitalization of $2.83 billion, a P/E ratio of -13.08, a PEG ratio of 0.95 and a beta of 0.89.

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 last year, the firm earned $0.22 EPS. Research analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 4.12%. Newell Brands’s payout ratio is -53.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NWL shares. Canaccord Genuity Group lowered their price target on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Citigroup reduced their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a research report on Monday, February 10th. Barclays boosted their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.81.

About Newell Brands

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.