Xcel Wealth Management LLC Increases Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Xcel Wealth Management LLC lifted its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 65.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,363 shares of the company’s stock after acquiring an additional 21,590 shares during the period. Xcel Wealth Management LLC’s holdings in Newell Brands were worth $541,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in Newell Brands in the 3rd quarter valued at $70,000. Claro Advisors LLC purchased a new position in Newell Brands in the 3rd quarter valued at $79,000. Versant Capital Management Inc grew its position in Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after buying an additional 1,666 shares during the last quarter. Optas LLC purchased a new position in Newell Brands in the 3rd quarter valued at $85,000. Finally, Glenmede Trust Co. NA purchased a new position in Newell Brands in the 3rd quarter valued at $92,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Trading Up 0.8 %

NASDAQ:NWL opened at $6.42 on Friday. The company has a market capitalization of $2.67 billion, a PE ratio of -12.35, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The stock has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $8.60.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, February 7th. The company reported $0.16 earnings per share 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 prior year, the business posted $0.22 earnings per share. On average, equities research analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, February 28th. Newell Brands’s payout ratio is -53.85%.

Wall Street Analysts Forecast Growth

NWL has been the topic of a number of analyst reports. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $17.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Canaccord Genuity Group reduced their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, February 10th. Royal Bank of Canada reduced their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.81.

Insider Activity at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.