Raymond James & Associates Reduces Holdings in Newell Brands Inc (NWL)
Raymond James & Associates cut its holdings in Newell Brands Inc (NYSE:NWL) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,596 shares of the company’s stock after selling 188,410 shares during the quarter. Raymond James & Associates’ holdings in Newell Brands were worth $13,460,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Gateway Investment Advisers LLC raised its position in Newell Brands by 0.4% in the fourth quarter. Gateway Investment Advisers LLC now owns 392,838 shares of the company’s stock worth $12,139,000 after acquiring an additional 1,582 shares in the last quarter. Condor Capital Management raised its position in Newell Brands by 8.9% in the fourth quarter. Condor Capital Management now owns 23,380 shares of the company’s stock worth $722,000 after acquiring an additional 1,904 shares in the last quarter. Buckingham Capital Management Inc. raised its position in Newell Brands by 7.5% in the third quarter. Buckingham Capital Management Inc. now owns 30,015 shares of the company’s stock worth $1,281,000 after acquiring an additional 2,085 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Newell Brands by 4.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 47,090 shares of the company’s stock worth $1,455,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Zions Bancorporation raised its position in Newell Brands by 72.6% in the third quarter. Zions Bancorporation now owns 5,588 shares of the company’s stock worth $238,000 after acquiring an additional 2,350 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Newell Brands Inc (NYSE:NWL) opened at $25.84 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.83 and a current ratio of 1.41. Newell Brands Inc has a 12 month low of $23.85 and a 12 month high of $55.08. The firm has a market capitalization of $13,008.21, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.92 annualized dividend and a yield of 3.56%. Newell Brands’s dividend payout ratio (DPR) is presently 16.34%.
A number of equities analysts recently weighed in on NWL shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price target on shares of Newell Brands in a research note on Tuesday, February 20th. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Barclays reissued a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a research note on Wednesday, December 6th. Jefferies Group reissued a “hold” rating and issued a $32.00 price target on shares of Newell Brands in a research note on Thursday, January 25th. Finally, Morgan Stanley cut Newell Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $38.00 to $25.00 in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.72.
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About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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