Optas LLC Has $123,000 Position in Newell Brands Inc. (NASDAQ:NWL)

Optas LLC grew its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 11.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,397 shares of the company’s stock after purchasing an additional 1,306 shares during the period. Optas LLC’s holdings in Newell Brands were worth $123,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after purchasing an additional 82,337 shares in the last quarter. Citigroup Inc. grew its stake in shares of Newell Brands by 7.7% in the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock valued at $9,476,000 after buying an additional 88,164 shares in the last quarter. Versor Investments LP raised its position in Newell Brands by 135.6% during the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after acquiring an additional 56,800 shares in the last quarter. Friedenthal Financial acquired a new stake in Newell Brands in the fourth quarter valued at $762,000. Finally, Wedmont Private Capital bought a new position in shares of Newell Brands in the 4th quarter valued at about $565,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Newell Brands Stock Performance

NASDAQ NWL opened at $9.69 on Wednesday. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $11.78. The firm has a 50-day moving average price of $10.19 and a two-hundred day moving average price of $8.64. The company has a market capitalization of $4.03 billion, a P/E ratio of -16.15, a P/E/G ratio of 1.12 and a beta of 0.89. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Analyst Ratings Changes

A number of brokerages have weighed in on NWL. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Wells Fargo & Company raised their price target on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Barclays raised their target price on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Canaccord Genuity Group upped their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.70.

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.