Newell Brands Inc. (NASDAQ:NWL) Stock Holdings Lifted by Invenomic Capital Management LP
Invenomic Capital Management LP increased its holdings in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 175.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615,748 shares of the company’s stock after purchasing an additional 1,028,622 shares during the period. Invenomic Capital Management LP owned approximately 0.39% of Newell Brands worth $14,057,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of NWL. Geneos Wealth Management Inc. boosted its holdings in Newell Brands by 233.2% in the second quarter. Geneos Wealth Management Inc. now owns 2,849 shares of the company’s stock worth $25,000 after purchasing an additional 1,994 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Newell Brands during the 1st quarter worth $26,000. RFP Financial Group LLC boosted its holdings in shares of Newell Brands by 181.0% during the 2nd quarter. RFP Financial Group LLC now owns 5,550 shares of the company’s stock worth $48,000 after buying an additional 3,575 shares during the period. ING Groep NV bought a new stake in shares of Newell Brands during the 1st quarter worth $49,000. Finally, Bartlett & Co. LLC bought a new stake in shares of Newell Brands during the 2nd quarter worth $50,000. 91.53% of the stock is currently owned by institutional investors.
Newell Brands Price Performance
NWL traded up $0.02 during midday trading on Friday, reaching $8.42. 3,893,262 shares of the company’s stock were exchanged, compared to its average volume of 3,582,264. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -6.28 and a beta of 1.01. Newell Brands Inc. has a one year low of $6.49 and a one year high of $16.75. The company has a quick ratio of 0.65, a current ratio of 1.24 and a debt-to-equity ratio of 1.52. The business has a 50-day simple moving average of $7.34 and a two-hundred day simple moving average of $8.83.
Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.12 billion. Newell Brands had a positive return on equity of 9.12% and a negative net margin of 6.61%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, research analysts predict that Newell Brands Inc. will post 0.75 EPS for the current year.
Newell Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 3.33%. Newell Brands’s dividend payout ratio is presently -20.90%.
Insider Activity at Newell Brands
In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $6.88, for a total value of $137,600.00. Following the completion of the sale, the insider now owns 152,363 shares in the company, valued at approximately $1,048,257.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research firms recently issued reports on NWL. StockNews.com downgraded shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup reduced their price objective on Newell Brands from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Truist Financial cut Newell Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $20.00 to $8.00 in a research report on Monday, October 30th. Royal Bank of Canada reduced their price objective on Newell Brands from $12.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, October 30th. Finally, JPMorgan Chase & Co. cut Newell Brands from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $7.00 in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.85.
Get Our Latest Research Report on Newell Brands
About Newell Brands (Free Report)
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
See Also
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