Victory Capital Management Inc. Acquires 4,637,180 Shares of Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. boosted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 5,324.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,724,266 shares of the company’s stock after acquiring an additional 4,637,180 shares during the quarter. Victory Capital Management Inc.’s holdings in Newell Brands were worth $36,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. raised its position in shares of Newell Brands by 5.9% during the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after buying an additional 1,762 shares in the last quarter. Arizona State Retirement System lifted its stake in Newell Brands by 2.1% during the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock worth $745,000 after purchasing an additional 2,394 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Newell Brands by 3.0% in the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after purchasing an additional 2,407 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Newell Brands by 9.9% during the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after buying an additional 2,490 shares in the last quarter. Finally, Xcel Wealth Management LLC lifted its position in Newell Brands by 8.3% in the 2nd quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock worth $210,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Insider Buying and Selling

In related news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction dated 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 transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NWL. Deutsche Bank Aktiengesellschaft upped their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Truist Financial upped their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Canaccord Genuity Group increased their target price on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.90.

Newell Brands Stock Performance

NASDAQ:NWL opened at $8.80 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $9.68. The stock has a market cap of $3.66 billion, a P/E ratio of -14.67, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The firm’s fifty day simple moving average is $7.94 and its 200 day simple moving average is $7.50.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts predict that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.18%. Newell Brands’s dividend payout ratio 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.