Pingora Partners LLC Sells 43,550 Shares of Newell Brands Inc. (NASDAQ:NWL)

by · The Cerbat Gem

Pingora Partners LLC decreased its stake in shares of Newell Brands Inc. (NASDAQ:NWL – Free Report) by 40.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,224 shares of the company’s stock after selling 43,550 shares during the period. Pingora Partners LLC’s holdings in Newell Brands were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its holdings in shares of Newell Brands by 208.7% during the 4th quarter. Voya Investment Management LLC now owns 166,618 shares of the company’s stock valued at $1,660,000 after buying an additional 112,649 shares during the period. Syon Capital LLC bought a new position in Newell Brands in the fourth quarter valued at about $246,000. Price T Rowe Associates Inc. MD boosted its position in Newell Brands by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 264,907 shares of the company’s stock worth $2,639,000 after purchasing an additional 24,466 shares during the last quarter. Hsbc Holdings PLC boosted its position in Newell Brands by 53.4% in the fourth quarter. Hsbc Holdings PLC now owns 40,219 shares of the company’s stock worth $402,000 after purchasing an additional 13,998 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Newell Brands by 85.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 22,319 shares of the company’s stock valued at $222,000 after purchasing an additional 10,280 shares during the period. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NWL. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their price target on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company reduced their price objective on Newell Brands from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. UBS Group lowered their target price on Newell Brands from $8.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, Truist Financial reduced their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.92.

Check Out Our Latest Stock Analysis on NWL

Newell Brands Stock Performance

NASDAQ NWL opened at $5.12 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78. The business has a 50-day moving average price of $5.93 and a 200-day moving average price of $8.14. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -9.85, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84.

Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the prior year, the business posted $0.22 earnings per share. As a group, equities research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 5.47%. Newell Brands’s dividend payout ratio is currently -53.85%.

Newell Brands Company Profile

(Free Report)

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.

See Also

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