Swiss National Bank Trims Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Swiss National Bank lessened its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 810,342 shares of the company’s stock after selling 7,600 shares during the quarter. Swiss National Bank’s holdings in Newell Brands were worth $6,223,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in shares of Newell Brands during the 2nd quarter worth approximately $26,000. Gradient Investments LLC acquired a new position in Newell Brands during the 2nd quarter worth $46,000. Quarry LP increased its holdings in Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares during the period. Innealta Capital LLC acquired a new stake in Newell Brands in the 2nd quarter valued at about $58,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Newell Brands in the 3rd quarter valued at about $70,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction 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 directly owns 230,254 shares in the company, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NWL shares. JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group increased their target price on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.10.

Newell Brands Stock Performance

Shares of NWL stock opened at $9.34 on Wednesday. The stock’s 50-day moving average is $8.18 and its two-hundred day moving average is $7.56. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -15.57, a PEG ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.72.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. Analysts predict that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Dividend Announcement

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