Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 620,170 shares of the company’s stock after selling 62,650 shares during the quarter. Prudential Financial Inc. owned approximately 0.15% of Newell Brands worth $6,177,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in Newell Brands during the fourth quarter worth about $72,431,000. Victory Capital Management Inc. lifted its stake in Newell Brands by 43.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company’s stock worth $67,637,000 after purchasing an additional 2,066,599 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Newell Brands by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company’s stock worth $467,053,000 after purchasing an additional 1,974,823 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Newell Brands by 36.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock valued at $40,102,000 after purchasing an additional 1,083,921 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Newell Brands in the fourth quarter valued at approximately $9,877,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

NASDAQ:NWL opened at $6.39 on Monday. The stock has a market capitalization of $2.66 billion, a P/E ratio of -12.29, a PEG ratio of 0.95 and a beta of 0.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The company has a 50 day moving average price of $7.66 and a 200 day moving average price of $8.52.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating 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 previous year, the firm earned $0.22 earnings per share. Equities research analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, February 28th. Newell Brands’s dividend payout ratio (DPR) is currently -53.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NWL shares. Barclays boosted their price objective on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Monday, February 10th. Citigroup reduced their target price on shares of Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group dropped their price target on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.81.

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.