New York State Common Retirement Fund Buys 72,635 Shares of Newell Brands Inc. (NASDAQ:NWL)

New York State Common Retirement Fund boosted its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 5.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,313,144 shares of the company’s stock after acquiring an additional 72,635 shares during the period. New York State Common Retirement Fund’s holdings in Newell Brands were worth $13,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Newell Brands during the 4th quarter worth $101,000. Venturi Wealth Management LLC lifted its position in Newell Brands by 30.5% during the fourth quarter. Venturi Wealth Management LLC now owns 11,940 shares of the company’s stock worth $119,000 after purchasing an additional 2,794 shares during the period. CIBC Asset Management Inc lifted its position in Newell Brands by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 41,346 shares of the company’s stock worth $412,000 after purchasing an additional 1,756 shares during the period. Sanctuary Advisors LLC grew its stake in Newell Brands by 61.6% during the fourth quarter. Sanctuary Advisors LLC now owns 28,124 shares of the company’s stock worth $294,000 after buying an additional 10,716 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Newell Brands by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,015,821 shares of the company’s stock valued at $20,078,000 after buying an additional 56,180 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Performance

Shares of NWL stock opened at $6.80 on Monday. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. The stock’s fifty day simple moving average is $9.41 and its 200 day simple moving average is $8.64. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $2.83 billion, a P/E ratio of -13.08, a P/E/G ratio of 0.95 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 quarter in the previous year, the company earned $0.22 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid 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 is Friday, February 28th. Newell Brands’s payout ratio is currently -53.85%.

Insider Transactions at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NWL shares. UBS Group upped their price target on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Canaccord Genuity Group cut their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Royal Bank of Canada dropped their price objective on 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. Finally, Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.81.

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.