Invesco Ltd. Sells 254,491 Shares of Newell Brands Inc. (NASDAQ:NWL)

Invesco Ltd. cut its holdings in Newell Brands Inc. (NASDAQ:NWL) by 11.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,016,576 shares of the company’s stock after selling 254,491 shares during the period. Invesco Ltd.’s holdings in Newell Brands were worth $20,085,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. MML Investors Services LLC raised its position in shares of Newell Brands by 35.4% in the third quarter. MML Investors Services LLC now owns 42,821 shares of the company’s stock valued at $329,000 after purchasing an additional 11,201 shares during the period. Geode Capital Management LLC lifted its position in Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after acquiring an additional 115,459 shares during the last quarter. Virtu Financial LLC bought a new stake in Newell Brands during the third quarter valued at about $225,000. World Investment Advisors LLC bought a new position in shares of Newell Brands in the third quarter worth about $326,000. Finally, Principal Financial Group Inc. lifted its position in shares of Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after purchasing an additional 82,337 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup dropped their price target on Newell Brands from $7.75 to $4.75 and set a “neutral” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. 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 for the company in a research report on Monday, February 10th. UBS Group decreased their target price on Newell Brands from $8.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group cut their price target on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, February 10th. Six 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, Newell Brands has a consensus rating of “Hold” and an average target price of $9.14.

Newell Brands Price Performance

Shares of NWL stock opened at $4.70 on Friday. The stock’s fifty day simple moving average is $6.11 and its 200 day simple moving average is $8.22. Newell Brands Inc. has a one year low of $4.22 and a one year high of $11.78. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -9.04, a P/E/G ratio of 0.95 and a beta of 0.84. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56.

Newell Brands (NASDAQ:NWL) last issued 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 negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period in the prior year, the firm posted $0.22 EPS. On average, analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Friday, February 28th. Newell Brands’s payout ratio is -53.85%.

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.