MQS Management LLC Takes $145,000 Position in Newell Brands Inc. (NASDAQ:NWL)

MQS Management LLC purchased a new stake in shares of Newell Brands Inc. (NASDAQ:NWL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,924 shares of the company’s stock, valued at approximately $145,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Primecap Management Co. CA raised its holdings in shares of Newell Brands by 17.7% during the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock valued at $90,054,000 after purchasing an additional 2,109,892 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after purchasing an additional 2,668,384 shares in the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Newell Brands by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after purchasing an additional 137,441 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after purchasing an additional 4,637,180 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Newell Brands by 8.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,820,147 shares of the company’s stock valued at $18,077,000 after purchasing an additional 215,759 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Analysts Set New Price Targets

NWL has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Truist Financial lifted their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and an average target price of $8.90.

Insider Activity

In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands 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 sale, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by company insiders.

Newell Brands Stock Performance

NASDAQ NWL opened at $8.80 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -14.67, a P/E/G ratio of 0.84 and a beta of 0.89. The company’s fifty day moving average is $7.94 and its two-hundred day moving average is $7.51. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.68.

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, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. Equities research analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.18%. Newell Brands’s dividend payout ratio (DPR) is currently -46.67%.

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.