Primecap Management Co. CA Purchases 674,015 Shares of Newell Brands Inc. (NASDAQ:NWL)

Primecap Management Co. CA increased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,723,079 shares of the company’s stock after buying an additional 674,015 shares during the quarter. Primecap Management Co. CA’s holdings in Newell Brands were worth $113,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Newell Brands by 29.2% in the 2nd 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 last quarter. AQR Capital Management LLC increased its holdings in shares of Newell Brands by 106.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after purchasing an additional 1,314,514 shares during the period. EVR Research LP raised its position in shares of Newell Brands by 340.0% during the second quarter. EVR Research LP now owns 660,000 shares of the company’s stock valued at $4,231,000 after buying an additional 510,000 shares during the last quarter. Finally, M&G PLC lifted its stake in shares of Newell Brands by 46.2% in the third quarter. M&G PLC now owns 1,462,030 shares of the company’s stock valued at $11,696,000 after buying an additional 462,030 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Up 1.1 %

NWL opened at $8.94 on Friday. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $9.68. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -14.90, a PEG ratio of 0.82 and a beta of 0.89. The firm’s 50-day simple moving average is $8.08 and its 200-day simple moving average is $7.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion during 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 was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Transactions at Newell Brands

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NWL shares. Deutsche Bank Aktiengesellschaft boosted their price target on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group raised their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Truist Financial boosted their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.10.

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.