Handelsbanken Fonder AB Boosts Stake in Newell Brands Inc. (NASDAQ:NWL)

Handelsbanken Fonder AB lifted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,200 shares of the company’s stock after buying an additional 4,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Newell Brands were worth $1,058,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Creative Planning boosted its position in Newell Brands by 32.7% during the third quarter. Creative Planning now owns 33,963 shares of the company’s stock worth $261,000 after purchasing an additional 8,365 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Newell Brands by 4.6% during the third quarter. Louisiana State Employees Retirement System now owns 201,100 shares of the company’s stock worth $1,544,000 after purchasing an additional 8,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Newell Brands by 47.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,233 shares of the company’s stock worth $93,000 after purchasing an additional 3,930 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Newell Brands by 105.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,995 shares of the company’s stock worth $292,000 after purchasing an additional 19,493 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Newell Brands by 5.5% during the third quarter. State of Alaska Department of Revenue now owns 237,391 shares of the company’s stock worth $1,823,000 after purchasing an additional 12,444 shares in the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NWL. Barclays boosted their target price on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Royal Bank of Canada decreased their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, February 10th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Finally, Citigroup cut their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.81.

Newell Brands Stock Performance

Newell Brands stock opened at $6.37 on Friday. The firm has a market capitalization of $2.65 billion, a P/E ratio of -12.25, a PEG ratio of 0.95 and a beta of 0.89. The stock has a fifty day moving average price of $9.11 and a 200 day moving average price of $8.60. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period last year, the company earned $0.22 earnings per share. Equities research analysts anticipate that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 4.40%. Newell Brands’s payout ratio is currently -53.85%.

Insider Activity at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

Newell Brands 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.