Manning & Napier Group LLC lifted its stake in shares of Newell Brands Inc (NYSE:NWL) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,745 shares of the company’s stock after acquiring an additional 5,843 shares during the period. Manning & Napier Group LLC’s holdings in Newell Brands were worth $3,006,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FNY Investment Advisers LLC raised its holdings in shares of Newell Brands by 459.1% during the 4th quarter. FNY Investment Advisers LLC now owns 1,957 shares of the company’s stock valued at $36,000 after buying an additional 1,607 shares during the period. Carroll Financial Associates Inc. raised its holdings in shares of Newell Brands by 31.7% during the 4th quarter. Carroll Financial Associates Inc. now owns 3,369 shares of the company’s stock valued at $65,000 after buying an additional 810 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Newell Brands during the 4th quarter valued at about $63,000. Truvestments Capital LLC purchased a new stake in Newell Brands during the 3rd quarter worth approximately $108,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Newell Brands by 277.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,948 shares of the company’s stock worth $121,000 after purchasing an additional 4,373 shares during the last quarter. 98.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NWL traded down $0.13 during midday trading on Friday, reaching $20.59. 3,296,962 shares of the company traded hands, compared to its average volume of 4,779,459. Newell Brands Inc has a twelve month low of $15.11 and a twelve month high of $29.55. The firm has a market capitalization of $9.61 billion, a P/E ratio of 7.49, a P/E/G ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.92 dividend on an annualized basis and a yield of 4.47%. Newell Brands’s dividend payout ratio is currently 33.45%.
In other Newell Brands news, Director Brett Icahn purchased 100,000 shares of Newell Brands stock in a transaction on Monday, November 12th. The stock was bought at an average price of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James L. Cunningham III sold 22,331 shares of the business’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $23.45, for a total value of $523,661.95. Following the transaction, the senior vice president now owns 7,321 shares of the company’s stock, valued at approximately $171,677.45. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Newell Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 21st. Wells Fargo & Co restated a “buy” rating and set a $36.00 price objective on shares of Newell Brands in a report on Thursday, December 20th. Citigroup lifted their price objective on Newell Brands from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 4th. Morgan Stanley set a $23.00 price objective on Newell Brands and gave the stock a “hold” rating in a report on Tuesday, November 6th. Finally, TheStreet downgraded Newell Brands from a “c” rating to a “d” rating in a report on Friday, November 2nd. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.67.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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