Victory Capital Management Inc. Has $36.28 Million Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. increased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 5,324.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,724,266 shares of the company’s stock after buying an additional 4,637,180 shares during the quarter. Victory Capital Management Inc. owned about 1.14% of Newell Brands worth $36,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NWL. Rothschild Investment LLC bought a new position in shares of Newell Brands in the second quarter valued at $26,000. Gradient Investments LLC bought a new position in Newell Brands in the 2nd quarter valued at about $46,000. Quarry LP boosted its stake in Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after purchasing an additional 4,056 shares during the last quarter. Innealta Capital LLC bought a new stake in Newell Brands during the 2nd quarter worth approximately $58,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands in the third quarter worth approximately $70,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

NASDAQ:NWL opened at $8.80 on Friday. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.68. 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 business has a fifty day simple moving average of $7.94 and a two-hundred day simple moving average of $7.50. The company has a market capitalization 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.

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

Newell Brands Announces Dividend

The firm also recently disclosed 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 -46.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NWL. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Truist Financial increased their target price on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. decreased their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Royal Bank of Canada upped their target price on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.90.

Insiders Place Their Bets

In other news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now directly owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.

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.