Cornercap Investment Counsel Inc. Decreases Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Cornercap Investment Counsel Inc. trimmed its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 54.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,102 shares of the company’s stock after selling 81,296 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Newell Brands were worth $531,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of Newell Brands during the second quarter valued at about $26,000. Gradient Investments LLC acquired a new position in shares of Newell Brands during the second quarter valued at about $46,000. Quarry LP increased its holdings in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after acquiring an additional 4,056 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Newell Brands during the second quarter valued at about $58,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Newell Brands during the third quarter valued at about $70,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NWL shares. Royal Bank of Canada upped their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Truist Financial increased their price target on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Canaccord Genuity Group increased their price target on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock 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 market cap of $3.66 billion, a P/E ratio of -14.67, a P/E/G ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock has a 50-day moving average of $7.94 and a two-hundred day moving average of $7.50. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $9.68.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. As a group, analysts anticipate 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 paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 3.18%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Buying and Selling

In other news, insider Bradford R. Turner sold 20,000 shares of the business’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 in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by insiders.

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.