Raymond James Financial Inc. Buys Shares of 991,627 Newell Brands Inc. (NASDAQ:NWL)

Raymond James Financial Inc. bought a new stake in shares of Newell Brands Inc. (NASDAQ:NWL) in the fourth quarter, Holdings Channel.com reports. The fund bought 991,627 shares of the company’s stock, valued at approximately $9,877,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWL. Smartleaf Asset Management LLC raised its position in Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after buying an additional 4,617 shares during the last quarter. Versant Capital Management Inc raised its position in Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after buying an additional 1,666 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Newell Brands in the 3rd quarter valued at $92,000. iSAM Funds UK Ltd purchased a new stake in shares of Newell Brands during the 3rd quarter valued at $94,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Newell Brands during the 4th quarter valued at $101,000. 92.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NWL has been the subject of several research analyst reports. Royal Bank of Canada decreased their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Citigroup decreased their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Canaccord Genuity Group cut their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.81.

Newell Brands Stock Performance

Shares of NWL stock opened at $6.45 on Friday. The stock has a 50 day moving average price of $8.00 and a two-hundred day moving average price of $8.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The company has a market capitalization of $2.68 billion, a P/E ratio of -12.40, a PEG ratio of 0.95 and a beta of 0.88. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $11.78.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the prior year, the business earned $0.22 earnings per share. Analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.34%. Newell Brands’s dividend payout ratio is currently -53.85%.

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.