Freestone Capital Holdings LLC Trims Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Freestone Capital Holdings LLC cut its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 28.6% in the fourth quarter, HoldingsChannel reports. The firm owned 25,005 shares of the company’s stock after selling 10,009 shares during the period. Freestone Capital Holdings LLC’s holdings in Newell Brands were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands in the 4th quarter valued at $72,431,000. Victory Capital Management Inc. raised its position in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after acquiring an additional 2,634,114 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Newell Brands by 36.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company’s stock valued at $40,102,000 after acquiring an additional 1,083,921 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Newell Brands during the 4th quarter valued at about $9,877,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NWL. Royal Bank of Canada lowered their price target on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, February 10th. Truist Financial raised shares of 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 research note on Monday, December 9th. UBS Group lifted their price objective on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Citigroup reduced their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands currently has an average rating of “Hold” and an average price target of $10.81.

Newell Brands Stock Up 0.9 %

Shares of NASDAQ:NWL opened at $6.75 on Friday. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The stock has a market cap of $2.81 billion, a P/E ratio of -12.98, a PEG ratio of 0.95 and a beta of 0.88. The business has a fifty day moving average of $8.68 and a two-hundred day moving average of $8.58. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64.

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

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, February 28th. Newell Brands’s payout ratio is presently -53.85%.

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.