13D Management LLC Takes $8.74 Million Position in Newell Brands Inc (NWL)

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13D Management LLC acquired a new stake in shares of Newell Brands Inc (NYSE:NWL) in the first quarter, Holdings Channel reports. The fund acquired 566,013 shares of the company’s stock, valued at approximately $8,739,000. Newell Brands comprises 2.6% of 13D Management LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds have also modified their holdings of NWL. Proficio Capital Partners LLC grew its position in shares of Newell Brands by 67.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,545 shares of the company’s stock valued at $29,000 after acquiring an additional 624 shares during the period. Capital Investment Advisory Services LLC bought a new position in Newell Brands in the 4th quarter worth $31,000. JOYN Advisors Inc. boosted its holdings in Newell Brands by 232.3% in the 4th quarter. JOYN Advisors Inc. now owns 1,738 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares during the period. FNY Investment Advisers LLC boosted its holdings in Newell Brands by 459.1% in the 4th quarter. FNY Investment Advisers LLC now owns 1,957 shares of the company’s stock worth $36,000 after buying an additional 1,607 shares during the period. Finally, We Are One Seven LLC bought a new position in Newell Brands in the 4th quarter worth $49,000. 98.42% of the stock is owned by hedge funds and other institutional investors.

NWL has been the subject of several recent analyst reports. Citigroup set a $24.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a report on Wednesday, February 20th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, February 18th. Barclays set a $16.00 target price on shares of Newell Brands and gave the stock a “hold” rating in a report on Tuesday, February 19th. Jefferies Financial Group dropped their target price on shares of Newell Brands to $15.00 and set a “hold” rating for the company in a report on Tuesday, February 19th. Finally, Wells Fargo & Co upped their target price on shares of Newell Brands from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.80.

Shares of NWL stock opened at $15.32 on Tuesday. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 5.57, a P/E/G ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 52 week low of $13.57 and a 52 week high of $28.00. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98.

Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.06 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, equities analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Thursday, May 30th. Newell Brands’s payout ratio is currently 33.45%.

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Newell Brands Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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