Versor Investments LP Acquires 56,800 Shares of Newell Brands Inc. (NASDAQ:NWL)

Versor Investments LP increased its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 135.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 98,700 shares of the company’s stock after purchasing an additional 56,800 shares during the quarter. Versor Investments LP’s holdings in Newell Brands were worth $758,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after acquiring an additional 2,668,384 shares in the last quarter. Primecap Management Co. CA increased its stake in Newell Brands by 17.7% during the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock valued at $90,054,000 after purchasing an additional 2,109,892 shares in the last quarter. AQR Capital Management LLC raised its stake in Newell Brands by 106.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after acquiring an additional 1,314,514 shares during the last quarter. M&G Plc acquired a new stake in shares of Newell Brands during the first quarter worth about $9,992,000. Finally, EVR Research LP lifted its holdings in shares of Newell Brands by 340.0% in the 2nd 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 period. Institutional investors own 92.50% of the company’s stock.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction dated 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 owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Newell Brands Stock Performance

NWL opened at $9.18 on Wednesday. The business has a 50 day moving average price of $7.82 and a two-hundred day moving average price of $7.47. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -15.30, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $9.68. 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 announced its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. Research analysts predict 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 will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.05%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NWL. Wells Fargo & Company upped their target price on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Canaccord Genuity Group upped their price objective on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada increased their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Truist Financial upped their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus target price of $8.90.

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.