Elevated Capital Advisors LLC Lowers Stake in Newell Brands Inc. (NASDAQ:NWL)

Elevated Capital Advisors LLC reduced its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 2.7% in the third quarter, HoldingsChannel reports. The fund owned 71,041 shares of the company’s stock after selling 1,973 shares during the period. Elevated Capital Advisors LLC’s holdings in Newell Brands were worth $546,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NWL. Centaurus Financial Inc. increased its stake in Newell Brands by 5.9% during the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after purchasing an additional 1,762 shares in the last quarter. Arizona State Retirement System increased its stake in Newell Brands by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after purchasing an additional 2,394 shares in the last quarter. Tidal Investments LLC increased its stake in Newell Brands by 3.0% during the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock valued at $671,000 after purchasing an additional 2,407 shares in the last quarter. Raymond James Trust N.A. increased its stake in Newell Brands by 9.9% during the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Xcel Wealth Management LLC grew its stake in shares of Newell Brands by 8.3% in the second quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock worth $210,000 after acquiring an additional 2,500 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their target price on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Canaccord Genuity Group boosted their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their target price on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average target price of $8.80.

Newell Brands Stock Performance

NASDAQ NWL opened at $7.32 on Thursday. The business has a 50-day moving average price of $7.40 and a 200-day moving average price of $7.31. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $9.24. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -10.17, a price-to-earnings-growth ratio of 1.29 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. As a group, equities research analysts predict that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is -38.89%.

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.