Connor Clark & Lunn Investment Management Ltd. Reduces Position in Newell Brands Inc. (NASDAQ:NWL)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 487,802 shares of the company’s stock after selling 136,124 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Newell Brands were worth $3,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWL. Principal Financial Group Inc. grew its holdings in shares of Newell Brands by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after purchasing an additional 82,337 shares during the last quarter. Versor Investments LP grew its stake in Newell Brands by 135.6% during the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after buying an additional 56,800 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 buying an additional 2,668,384 shares during the period. ClariVest Asset Management LLC acquired a new position in Newell Brands during the second quarter worth approximately $596,000. Finally, Elevated Capital Advisors LLC purchased a new stake in Newell Brands in the second quarter valued at approximately $468,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Stock Performance

NWL opened at $9.12 on Friday. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $9.68. The stock has a market cap of $3.79 billion, a P/E ratio of -15.20, a P/E/G ratio of 0.83 and a beta of 0.89. The stock’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $7.54. 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 (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, equities analysts anticipate that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NWL. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Canaccord Genuity Group increased their price target on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.10.

Insider Activity

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

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.