Newell Brands Inc. (NASDAQ:NWL) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 3.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,405 shares of the company’s stock after purchasing an additional 9,577 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Newell Brands worth $2,514,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new position in shares of Newell Brands in the 2nd quarter valued at $26,000. Gradient Investments LLC purchased a new stake in Newell Brands in the second quarter valued at $46,000. Quarry LP boosted its stake in Newell Brands by 104.4% in the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after acquiring an additional 4,056 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Newell Brands during the second quarter worth about $58,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Newell Brands during the third quarter worth about $70,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $9.34 on Wednesday. The company has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $7.56. 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 company has a market cap of $3.89 billion, a PE ratio of -15.57, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $9.72.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities analysts anticipate that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.00%. Newell Brands’s payout ratio is -46.67%.

Analysts Set New Price Targets

NWL has been the topic of several research analyst reports. Truist Financial lifted their price target on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Canaccord Genuity Group raised their price target on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Newell Brands currently has an average rating of “Hold” and a consensus target price of $9.10.

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.