Venturi Wealth Management LLC Raises Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Venturi Wealth Management LLC increased its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 30.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,940 shares of the company’s stock after purchasing an additional 2,794 shares during the quarter. Venturi Wealth Management LLC’s holdings in Newell Brands were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA raised its stake in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after buying an additional 674,015 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Newell Brands in the fourth quarter worth about $72,431,000. Geode Capital Management LLC grew its stake in shares of Newell Brands by 1.8% during the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after acquiring an additional 115,459 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after acquiring an additional 4,637,180 shares in the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 10th. UBS Group boosted their price objective on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $17.00 in a report on Monday, December 9th. Finally, Citigroup dropped their price objective on shares of Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Newell Brands has a consensus rating of “Hold” and an average target price of $10.81.

Insiders Place Their Bets

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Newell Brands Stock Performance

NASDAQ NWL opened at $6.80 on Friday. The company has a market capitalization of $2.83 billion, a PE ratio of -13.08, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a fifty day moving average of $9.41 and a 200 day moving average of $8.63. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $11.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Research analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 4.12%. Newell Brands’s dividend payout ratio is presently -53.85%.

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.