M&T Bank Corp Acquires 3,202 Shares of Newell Brands Inc. (NASDAQ:NWL)

M&T Bank Corp lifted its stake in Newell Brands Inc. (NASDAQ:NWL) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,694 shares of the company’s stock after acquiring an additional 3,202 shares during the period. M&T Bank Corp’s holdings in Newell Brands were worth $389,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Newell Brands during the second quarter valued at approximately $26,000. Quarry LP grew its position in shares of Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after purchasing an additional 4,056 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Newell Brands in the second quarter worth $58,000. Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands in the third quarter worth $70,000. Finally, Claro Advisors LLC bought a new stake in Newell Brands during the third quarter valued at $79,000. 92.50% of the stock is owned by institutional investors.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $10.13 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The company has a fifty day moving average of $9.15 and a 200-day moving average of $7.83. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -16.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.76%. Newell Brands’s payout ratio is -46.67%.

Analyst Ratings Changes

Several analysts have weighed in on NWL shares. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $17.00 in a report on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group increased their price target on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

Insiders Place Their Bets

In other news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

About Newell Brands

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.