Glenmede Trust Co. NA Invests $92,000 in Newell Brands Inc. (NASDAQ:NWL)

Glenmede Trust Co. NA bought a new position in Newell Brands Inc. (NASDAQ:NWL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,958 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors have also made changes to their positions in NWL. Victory Capital Management Inc. boosted its holdings in shares of Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after purchasing an additional 2,668,384 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Newell Brands by 17.7% during the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock worth $90,054,000 after purchasing an additional 2,109,892 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Newell Brands by 106.7% during the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after purchasing an additional 1,314,514 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NWL has been the subject of several research reports. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Wells Fargo & Company lifted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, Canaccord Genuity Group lifted their target price on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Newell Brands presently has an average rating of “Hold” and an average price target of $9.30.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $10.31 on Friday. The firm has a fifty day simple moving average of $8.52 and a 200-day simple moving average of $7.64. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $10.44. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -17.18, a PEG ratio of 0.90 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share 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 business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Newell Brands’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Buying and Selling

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

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.