Pzena Investment Management LLC Has $402.94 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Pzena Investment Management LLC lessened its position in Newell Brands Inc. (NASDAQ:NWL) by 0.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,466,712 shares of the company’s stock after selling 12,346 shares during the quarter. Newell Brands makes up about 1.3% of Pzena Investment Management LLC’s portfolio, making the stock its 28th biggest position. Pzena Investment Management LLC owned about 0.13% of Newell Brands worth $402,944,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in shares of Newell Brands in the second quarter valued at approximately $26,000. Gradient Investments LLC bought a new position in shares of Newell Brands in the second quarter valued at $46,000. Quarry LP increased its holdings in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC bought a new stake in Newell Brands during the second quarter worth $58,000. Finally, Venturi Wealth Management LLC acquired a new stake in Newell Brands in the third quarter valued at $70,000. Institutional investors own 92.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NWL shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their price objective on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Canaccord Genuity Group lifted their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $8.00 to $10.00 in a research note on Wednesday. Finally, Truist Financial lifted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.10.

Insider Buying and Selling

In other news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Newell Brands Stock Performance

NASDAQ NWL traded up $0.24 during trading on Wednesday, reaching $9.06. The company’s stock had a trading volume of 933,235 shares, compared to its average volume of 5,455,166. The firm has a 50 day moving average price of $8.02 and a 200 day moving average price of $7.52. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $9.68. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -14.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

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.