Norges Bank Buys Shares of 3,740,079 Newell Brands Inc. $NWL

Norges Bank purchased a new position in shares of Newell Brands Inc. (NASDAQ:NWL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,740,079 shares of the company’s stock, valued at approximately $20,196,000. Norges Bank owned 0.89% of Newell Brands at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in Newell Brands by 401.2% during the 1st quarter. AQR Capital Management LLC now owns 10,588,136 shares of the company’s stock worth $65,382,000 after buying an additional 8,475,385 shares during the period. Dimensional Fund Advisors LP raised its position in Newell Brands by 12.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,426,137 shares of the company’s stock valued at $126,646,000 after purchasing an additional 2,336,840 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Newell Brands in the 1st quarter valued at about $9,404,000. Empowered Funds LLC boosted its stake in shares of Newell Brands by 1,499.9% in the 2nd quarter. Empowered Funds LLC now owns 1,532,050 shares of the company’s stock valued at $8,273,000 after buying an additional 1,436,292 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Newell Brands during the first quarter worth about $8,545,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NWL shares. Citigroup lowered their price target on shares of Newell Brands from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada lowered their target price on shares of Newell Brands from $8.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, November 3rd. UBS Group decreased their price target on Newell Brands from $5.50 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, December 2nd. Canaccord Genuity Group dropped their price target on shares of Newell Brands from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Newell Brands in a report on Monday, December 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.69.

Newell Brands Trading Down 2.4%

NWL opened at $3.63 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.14 and a debt-to-equity ratio of 1.68. Newell Brands Inc. has a 52 week low of $3.07 and a 52 week high of $11.78. The business’s 50 day moving average is $4.14 and its two-hundred day moving average is $5.09. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -60.49 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, October 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Newell Brands had a positive return on equity of 8.64% and a negative net margin of 0.33%.The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. Newell Brands has set its FY 2025 guidance at 0.560-0.600 EPS and its Q4 2025 guidance at 0.160-0.200 EPS. On average, research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.28 dividend on an annualized basis and a yield of 7.7%. Newell Brands’s payout ratio is currently -466.67%.

Newell Brands 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.