AXQ Capital LP Invests $892,000 in Newell Brands Inc. (NASDAQ:NWL)

AXQ Capital LP acquired a new stake in Newell Brands Inc. (NASDAQ:NWL) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 89,532 shares of the company’s stock, valued at approximately $892,000.

Several other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Newell Brands during the fourth quarter worth about $46,000. Smartleaf Asset Management LLC increased its holdings in Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock valued at $79,000 after buying an additional 4,617 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after acquiring an additional 1,666 shares during the period. Glenmede Trust Co. NA acquired a new position in Newell Brands during the third quarter worth $92,000. Finally, iSAM Funds UK Ltd purchased a new stake in Newell Brands during the third quarter worth $94,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Stock Down 1.4 %

Shares of NASDAQ NWL opened at $6.45 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $11.78. The stock’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $8.53. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -12.40, a PEG ratio of 0.95 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period in the previous year, the firm earned $0.22 EPS. As a group, equities analysts anticipate that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands’s payout ratio is currently -53.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NWL shares. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Canaccord Genuity Group reduced their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Citigroup dropped their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a research report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Barclays boosted their target price on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.81.

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.