Parametric Portfolio Associates LLC Cuts Stake in Newell Brands Inc (NYSE:NWL)

Parametric Portfolio Associates LLC cut its stake in Newell Brands Inc (NYSE:NWL) by 37.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 970,275 shares of the company’s stock after selling 587,884 shares during the period. Parametric Portfolio Associates LLC owned about 0.23% of Newell Brands worth $14,884,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NWL. BlackRock Inc. raised its stake in Newell Brands by 8.4% during the fourth quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock worth $830,211,000 after acquiring an additional 3,470,954 shares during the period. Pzena Investment Management LLC increased its stake in shares of Newell Brands by 35.6% during the first quarter. Pzena Investment Management LLC now owns 24,817,839 shares of the company’s stock valued at $380,706,000 after acquiring an additional 6,513,500 shares during the period. Geode Capital Management LLC increased its stake in shares of Newell Brands by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 6,103,942 shares of the company’s stock valued at $113,388,000 after acquiring an additional 660,185 shares during the period. Norges Bank acquired a new position in shares of Newell Brands during the fourth quarter valued at approximately $96,020,000. Finally, Northern Trust Corp increased its stake in shares of Newell Brands by 4.9% during the fourth quarter. Northern Trust Corp now owns 4,876,797 shares of the company’s stock valued at $90,660,000 after acquiring an additional 226,519 shares during the period. Hedge funds and other institutional investors own 98.42% of the company’s stock.

A number of analysts recently weighed in on the stock. Wells Fargo & Co raised their target price on shares of Newell Brands from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Jefferies Financial Group restated a “hold” rating and set a $15.00 target price on shares of Newell Brands in a report on Thursday, March 14th. Finally, Zacks Investment Research cut shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Newell Brands has a consensus rating of “Hold” and an average target price of $20.80.

Shares of Newell Brands stock traded down $0.20 during midday trading on Monday, reaching $15.22. 3,413,438 shares of the company’s stock traded hands, compared to its average volume of 6,226,036. The stock has a market capitalization of $6.68 billion, a P/E ratio of 5.53, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 52 week low of $13.04 and a 52 week high of $28.00. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98. The firm has a 50 day moving average of $14.83.

Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.08. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business posted $0.34 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Newell Brands Inc will post 1.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 6.04%. Newell Brands’s dividend payout ratio (DPR) is currently 33.45%.

Newell Brands Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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