Hennessy Advisors Inc. Purchases Shares of 7,272,200 Newell Brands Inc. (NASDAQ:NWL)

Hennessy Advisors Inc. acquired a new position in Newell Brands Inc. (NASDAQ:NWL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,272,200 shares of the company’s stock, valued at approximately $72,431,000. Newell Brands comprises 2.2% of Hennessy Advisors Inc.’s portfolio, making the stock its 4th biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP lifted its holdings in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares during the period. Venturi Wealth Management LLC bought a new stake in Newell Brands in the third quarter valued at $70,000. Atomi Financial Group Inc. purchased a new position in Newell Brands during the 3rd quarter valued at $79,000. Claro Advisors LLC bought a new position in Newell Brands in the 3rd quarter worth $79,000. Finally, Versant Capital Management Inc lifted its position 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 purchasing an additional 1,666 shares during the period. 92.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Newell Brands Stock Up 1.8 %

Shares of Newell Brands stock opened at $10.16 on Friday. The company has a 50-day simple moving average of $9.88 and a two-hundred day simple moving average of $8.26. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.76%. Newell Brands’s payout ratio is -46.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NWL. JPMorgan Chase & Co. boosted their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group upped their price target on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Canaccord Genuity Group upped their target price on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus price target of $10.60.

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.