Victory Capital Management Inc. Grows Position in Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. boosted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 43.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,790,865 shares of the company’s stock after buying an additional 2,066,599 shares during the quarter. Victory Capital Management Inc.’s holdings in Newell Brands were worth $67,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Hennessy Advisors Inc. bought a new stake in shares of Newell Brands in the fourth quarter worth approximately $72,431,000. Massachusetts Financial Services Co. MA grew its position in Newell Brands by 18.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the period. Bank of New York Mellon Corp raised its stake in 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 buying an additional 1,083,921 shares during the last quarter. FMR LLC lifted its holdings in shares of Newell Brands by 21.5% during the 3rd quarter. FMR LLC now owns 4,354,913 shares of the company’s stock valued at $33,446,000 after buying an additional 770,717 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Newell Brands by 4.8% in the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after buying an additional 674,015 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

NWL opened at $6.75 on Friday. The company has a 50 day simple moving average of $8.68 and a two-hundred day simple moving average of $8.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The firm 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. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company posted $0.22 earnings per share. Equities analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group increased their target price on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of 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 raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Wells Fargo & Company reduced their target price on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Finally, Barclays lifted their price target on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Newell Brands presently has a consensus rating of “Hold” and an average price target of $10.81.

Newell Brands 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.