Public Sector Pension Investment Board Grows Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Public Sector Pension Investment Board lifted its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 5.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 882,623 shares of the company’s stock after acquiring an additional 42,200 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Newell Brands worth $6,779,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Newell Brands by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after acquiring an additional 82,337 shares during the last quarter. Versor Investments LP raised its stake in shares of Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after purchasing an additional 56,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after purchasing an additional 2,668,384 shares during the period. Primecap Management Co. CA boosted its position in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after buying an additional 674,015 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Newell Brands in the 2nd quarter worth approximately $596,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Price Performance

Newell Brands stock opened at $9.59 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The company’s fifty day moving average price is $8.31 and its 200 day moving average price is $7.59. The stock has a market capitalization of $3.99 billion, a P/E ratio of -15.98, a P/E/G ratio of 0.88 and a beta of 0.89. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.72.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 earnings per share. As a group, equities research analysts anticipate that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company 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 $0.07 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 2.92%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Buying and Selling

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NWL. Canaccord Genuity Group upped their price objective on shares of Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company increased their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Newell Brands 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.