Newell Brands Inc. (NASDAQ:NWL) Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 13,240.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 215,844 shares of the company’s stock after buying an additional 214,226 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Newell Brands were worth $2,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. PFG Investments LLC lifted its holdings 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 buying an additional 981 shares during the last quarter. TriaGen Wealth Management LLC lifted its holdings in Newell Brands by 1.7% during the 4th quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company’s stock worth $583,000 after buying an additional 991 shares during the last quarter. Optas LLC lifted its holdings in Newell Brands by 11.8% during the 4th 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 last quarter. CIBC Asset Management Inc lifted its holdings in Newell Brands by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after buying an additional 1,345 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Newell Brands by 14.8% in the 4th quarter. Accurate Wealth Management LLC now owns 11,865 shares of the company’s stock worth $116,000 after purchasing an additional 1,531 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $6.80 on Friday. The business’s fifty day moving average price is $9.41 and its two-hundred day moving average price is $8.62. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The company has a market capitalization of $2.83 billion, a P/E ratio of -13.08, a PEG ratio of 0.97 and a beta of 0.89. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 quarter in the prior year, the company posted $0.22 EPS. As a group, research analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -53.85%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NWL shares. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. UBS Group raised their price target on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Royal Bank of Canada cut their price target on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, February 10th. Finally, Barclays raised their price target on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.81.

Insider Activity

In other news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction on 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 legal filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

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.