Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its position in Newell Brands Inc. (NASDAQ:NWL) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,624,500 shares of the company’s stock after selling 647,700 shares during the period. Newell Brands comprises 1.4% of Hennessy Advisors Inc.’s portfolio, making the stock its 18th largest holding. Hennessy Advisors Inc. owned approximately 1.59% of Newell Brands worth $41,072,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Newell Brands by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,992,076 shares of the company’s stock valued at $39,761,000 after buying an additional 178,028 shares during the last quarter. Amundi increased its position in Newell Brands by 194.4% during the fourth quarter. Amundi now owns 215,597 shares of the company’s stock worth $2,121,000 after purchasing an additional 142,361 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Newell Brands during the fourth quarter worth approximately $9,877,000. Empowered Funds LLC increased its position in Newell Brands by 751.9% during the fourth quarter. Empowered Funds LLC now owns 100,251 shares of the company’s stock worth $999,000 after purchasing an additional 88,483 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new position in Newell Brands during the fourth quarter worth approximately $434,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of Newell Brands from a “sell” rating to a “hold” rating in a research report on Sunday, May 4th. Barclays upped their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on shares of Newell Brands from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, UBS Group decreased their price objective on shares of Newell Brands from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.53.

Newell Brands Price Performance

Shares of NWL stock opened at $5.24 on Friday. The company has a market capitalization of $2.19 billion, a PE ratio of -10.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97. The firm has a fifty day simple moving average of $5.24 and a 200-day simple moving average of $7.38. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. Newell Brands’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 5.34%. Newell Brands’s dividend payout ratio (DPR) is presently -47.46%.

About Newell Brands

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.