Intech Investment Management LLC Takes $1.51 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Intech Investment Management LLC purchased a new stake in shares of Newell Brands Inc. (NASDAQ:NWL) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 196,112 shares of the company’s stock, valued at approximately $1,506,000.

A number of other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after acquiring an additional 2,668,384 shares in the last quarter. Primecap Management Co. CA grew its position in Newell Brands by 17.7% in the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock worth $90,054,000 after acquiring an additional 2,109,892 shares in the last quarter. AQR Capital Management LLC grew its position in Newell Brands by 106.7% in the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after acquiring an additional 1,314,514 shares in the last quarter. Finally, EVR Research LP lifted its stake in Newell Brands by 340.0% in the second quarter. EVR Research LP now owns 660,000 shares of the company’s stock worth $4,231,000 after purchasing an additional 510,000 shares during the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NWL shares. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered 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. Finally, Canaccord Genuity Group boosted their price target on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and a consensus target price of $9.10.

Newell Brands Price Performance

NWL stock opened at $9.62 on Tuesday. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.72. The company has a market cap of $4.00 billion, a P/E ratio of -16.03, a PEG ratio of 0.84 and a beta of 0.89. The firm has a 50-day moving average of $8.14 and a 200 day moving average of $7.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. Newell Brands’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insiders Place Their Bets

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

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.