KLP Kapitalforvaltning AS Purchases Shares of 84,500 Newell Brands Inc. (NASDAQ:NWL)

KLP Kapitalforvaltning AS acquired a new position in Newell Brands Inc. (NASDAQ:NWL) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 84,500 shares of the company’s stock, valued at approximately $842,000.

Several other hedge funds and other institutional investors have also modified their holdings of NWL. PFG Investments LLC boosted its position in Newell Brands by 6.6% during the 4th quarter. PFG Investments LLC now owns 15,812 shares of the company’s stock worth $157,000 after purchasing an additional 981 shares during the period. TriaGen Wealth Management LLC raised its position in Newell Brands by 1.7% in the fourth quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company’s stock valued at $583,000 after purchasing an additional 991 shares during the period. Arizona State Retirement System lifted its stake in shares of Newell Brands by 0.9% during the fourth quarter. Arizona State Retirement System now owns 120,668 shares of the company’s stock worth $1,202,000 after purchasing an additional 1,125 shares in the last quarter. Optas LLC boosted its position in shares of Newell Brands by 11.8% in the fourth quarter. Optas LLC now owns 12,397 shares of the company’s stock worth $123,000 after buying an additional 1,306 shares during the period. Finally, Accurate Wealth Management LLC grew its stake in shares of Newell Brands by 14.8% in the fourth quarter. Accurate Wealth Management LLC now owns 11,865 shares of the company’s stock valued at $116,000 after buying an additional 1,531 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Down 3.0 %

NASDAQ:NWL opened at $6.20 on Tuesday. 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 company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. Newell Brands Inc. has a one year low of $5.39 and a one year high of $11.78. The stock has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $8.51.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping 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 business posted $0.22 earnings per share. Sell-side analysts predict that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.52%. Newell Brands’s dividend payout ratio (DPR) is -53.85%.

Wall Street Analyst Weigh In

NWL has been the topic of several recent research reports. UBS Group boosted their price target on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Barclays upped their target price on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Royal Bank of Canada cut their price objective on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, February 10th. Citigroup lowered their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, Canaccord Genuity Group cut their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.