Primecap Management Co. CA Buys 2,109,892 Shares of Newell Brands Inc. (NASDAQ:NWL)

Primecap Management Co. CA raised its stake in Newell Brands Inc. (NASDAQ:NWL) by 17.7% in the second quarter, Holdings Channel.com reports. The firm owned 14,049,064 shares of the company’s stock after acquiring an additional 2,109,892 shares during the period. Primecap Management Co. CA’s holdings in Newell Brands were worth $90,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NWL. Rothschild Investment LLC bought a new stake in Newell Brands in the 2nd quarter valued at $26,000. Quarry LP raised its stake in shares of Newell Brands by 106.2% in the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after acquiring an additional 2,437 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Newell Brands by 50.5% in the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after acquiring an additional 1,780 shares during the last quarter. Quest Partners LLC bought a new position in shares of Newell Brands in the fourth quarter worth about $45,000. Finally, Gradient Investments LLC bought a new position in shares of Newell Brands in the second quarter worth about $46,000. 92.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Truist Financial boosted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.82.

Newell Brands Stock Down 3.4 %

Newell Brands stock opened at $7.47 on Wednesday. The stock has a market capitalization of $3.10 billion, a PE ratio of -10.38, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $9.79. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $7.24 and a 200-day moving average of $7.35.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is -38.89%.

Newell Brands 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.