Victory Capital Management Inc. Purchases 2,066,599 Shares of Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. lifted its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,790,865 shares of the company’s stock after buying an additional 2,066,599 shares during the period. Victory Capital Management Inc. owned about 1.63% of Newell Brands worth $67,637,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Keybank National Association OH purchased a new position in shares of Newell Brands during the fourth quarter worth approximately $174,000. Charles Schwab Investment Management Inc. raised its position in Newell Brands by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,992,076 shares of the company’s stock worth $39,761,000 after purchasing an additional 178,028 shares during the period. Jones Financial Companies Lllp lifted its stake in Newell Brands by 35.3% in the fourth quarter. Jones Financial Companies Lllp now owns 11,311 shares of the company’s stock worth $113,000 after purchasing an additional 2,954 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after buying an additional 4,617 shares during the period. Finally, Xcel Wealth Management LLC grew its stake in shares of Newell Brands by 65.9% during the fourth quarter. Xcel Wealth Management LLC now owns 54,363 shares of the company’s stock valued at $541,000 after buying an additional 21,590 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, February 10th. Citigroup lowered their price target on shares of Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group cut their price target 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. Barclays increased their target price on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, UBS Group raised their target price on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.81.

Newell Brands Stock Up 0.9 %

NWL stock opened at $6.75 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. The business has a 50 day moving average of $8.68 and a 200 day moving average of $8.58. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. The firm has a market cap of $2.81 billion, a PE ratio of -12.98, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating 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 quarter in the prior year, the firm earned $0.22 earnings per share. On average, research analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.15%. Newell Brands’s dividend payout ratio is presently -53.85%.

Newell Brands Company 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.