Newell Brands Inc (NWL) Position Lowered by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its stake in Newell Brands Inc (NYSE:NWL) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,971 shares of the company’s stock after selling 6,600 shares during the period. State Treasurer State of Michigan’s holdings in Newell Brands were worth $2,286,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its position in Newell Brands by 10.7% in the third quarter. BlackRock Inc. now owns 41,188,089 shares of the company’s stock valued at $836,120,000 after acquiring an additional 3,982,751 shares during the last quarter. Pzena Investment Management LLC grew its position in Newell Brands by 0.9% in the third quarter. Pzena Investment Management LLC now owns 16,727,033 shares of the company’s stock valued at $339,559,000 after acquiring an additional 144,819 shares during the last quarter. Bank of New York Mellon Corp grew its position in Newell Brands by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after acquiring an additional 1,906,362 shares during the last quarter. Franklin Resources Inc. grew its position in Newell Brands by 4,814.0% in the third quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock valued at $229,568,000 after acquiring an additional 11,078,567 shares during the last quarter. Finally, FMR LLC grew its position in Newell Brands by 7.2% in the third quarter. FMR LLC now owns 7,543,540 shares of the company’s stock valued at $153,134,000 after acquiring an additional 507,125 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.

In other news, SVP James L. Cunningham III sold 22,331 shares of Newell Brands stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $23.45, for a total transaction of $523,661.95. Following the sale, the senior vice president now directly owns 7,321 shares of the company’s stock, valued at $171,677.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

NWL has been the topic of a number of recent analyst reports. Wells Fargo & Co reiterated a “buy” rating and issued a $36.00 target price on shares of Newell Brands in a research report on Thursday, December 20th. Citigroup lifted their target price on Newell Brands from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 4th. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, January 7th. TheStreet cut Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. Finally, ValuEngine upgraded Newell Brands from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.67.

Shares of NWL stock opened at $21.56 on Wednesday. Newell Brands Inc has a 12 month low of $15.11 and a 12 month high of $29.55. The stock has a market cap of $10.15 billion, a PE ratio of 7.84, a PEG ratio of 3.82 and a beta of 0.90. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Wednesday, February 27th. Newell Brands’s payout ratio is 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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