Pzena Investment Management LLC Has $488.14 Million Stake in Newell Brands Inc. (NASDAQ:NWL)

Pzena Investment Management LLC trimmed its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,010,425 shares of the company’s stock after selling 3,456,287 shares during the period. Newell Brands accounts for approximately 1.7% of Pzena Investment Management LLC’s holdings, making the stock its 25th largest holding. Pzena Investment Management LLC owned approximately 11.78% of Newell Brands worth $488,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after purchasing an additional 82,337 shares in the last quarter. Empowered Funds LLC increased its holdings in Newell Brands by 751.9% during the 4th quarter. Empowered Funds LLC now owns 100,251 shares of the company’s stock valued at $999,000 after purchasing an additional 88,483 shares in the last quarter. Citigroup Inc. boosted its position in Newell Brands by 7.7% in the 3rd quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock valued at $9,476,000 after buying an additional 88,164 shares during the last quarter. Versor Investments LP boosted its position in Newell Brands by 135.6% in the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after buying an additional 56,800 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Newell Brands in the 4th quarter valued at $762,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Down 0.3 %

NASDAQ:NWL opened at $6.73 on Tuesday. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $11.78. 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 firm has a market capitalization of $2.80 billion, a P/E ratio of -12.94, a P/E/G ratio of 0.95 and a beta of 0.88. The stock’s fifty day simple moving average is $8.61 and its 200-day simple moving average is $8.59.

Newell Brands (NASDAQ:NWL) last posted its 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 quarter last year, the firm earned $0.22 EPS. Equities research analysts expect 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. Shareholders of record on Friday, February 28th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 4.16%. Newell Brands’s dividend payout ratio is presently -53.85%.

Analyst Ratings Changes

NWL has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. UBS Group increased their price objective on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group decreased their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Barclays increased their price objective on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.81.

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.