King Luther Capital Management Corp Sells 567,857 Shares of Newell Brands Inc. (NASDAQ:NWL)

King Luther Capital Management Corp trimmed its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 10.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,029,320 shares of the company’s stock after selling 567,857 shares during the quarter. King Luther Capital Management Corp owned about 1.21% of Newell Brands worth $43,654,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC increased its holdings in Newell Brands by 481.6% in the 3rd quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after purchasing an additional 4,476,644 shares in the last quarter. Norges Bank acquired a new position in Newell Brands in the 4th quarter worth about $32,781,000. Pzena Investment Management LLC increased its holdings in Newell Brands by 4.5% in the 3rd quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock worth $494,810,000 after purchasing an additional 2,373,356 shares in the last quarter. Primecap Management Co. CA increased its holdings in Newell Brands by 35.9% in the 3rd quarter. Primecap Management Co. CA now owns 6,302,300 shares of the company’s stock worth $56,910,000 after purchasing an additional 1,665,800 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Newell Brands by 368.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,026,362 shares of the company’s stock worth $18,298,000 after purchasing an additional 1,593,661 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Down 3.2 %

NASDAQ:NWL traded down $0.26 on Wednesday, hitting $7.96. The stock had a trading volume of 1,163,096 shares, compared to its average volume of 4,830,899. The business’s fifty day moving average is $7.68 and its 200 day moving average is $7.88. The company has a market cap of $3.30 billion, a PE ratio of -11.38, a P/E/G ratio of 1.53 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands Inc. has a 52 week low of $6.49 and a 52 week high of $11.61.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts expect that Newell Brands Inc. will post 0.6 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.07 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 3.52%. Newell Brands’s payout ratio is currently -38.89%.

Wall Street Analyst Weigh In

NWL has been the subject of several recent research reports. UBS Group cut Newell Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $8.50 in a research note on Friday, February 16th. Barclays raised Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target for the company in a research note on Tuesday, May 14th. Raymond James cut Newell Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Canaccord Genuity Group increased their price target on Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company increased their price target on Newell Brands from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average price target of $8.70.

Newell Brands Company 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.