Advisors Asset Management Inc. Sells 30,232 Shares of Newell Brands Inc. (NASDAQ:NWL)

Advisors Asset Management Inc. decreased its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 28.7% in the third quarter, HoldingsChannel reports. The fund owned 75,267 shares of the company’s stock after selling 30,232 shares during the quarter. Advisors Asset Management Inc.’s holdings in Newell Brands were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Newell Brands during the 2nd quarter valued at $26,000. Gradient Investments LLC purchased a new position in shares of Newell Brands during the 2nd quarter valued at $46,000. Quarry LP lifted its stake in shares of Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after buying an additional 4,056 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Newell Brands during the 2nd quarter valued at $58,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Newell Brands during the 3rd quarter valued at $70,000. Institutional investors own 92.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Newell Brands

In other 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 transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Newell Brands Stock Performance

Newell Brands stock opened at $9.56 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $9.72. The firm has a market capitalization of $3.98 billion, a P/E ratio of -15.93, a price-to-earnings-growth ratio of 0.89 and a beta of 0.89. The company’s 50-day moving average is $8.22 and its 200 day moving average is $7.57.

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, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

About Newell Brands

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.