Hennessy Advisors Inc. Invests $72.43 Million in Newell Brands Inc. (NASDAQ:NWL)

Hennessy Advisors Inc. bought a new stake in Newell Brands Inc. (NASDAQ:NWL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,272,200 shares of the company’s stock, valued at approximately $72,431,000. Newell Brands accounts for 2.2% of Hennessy Advisors Inc.’s holdings, making the stock its 4th largest position. Hennessy Advisors Inc. owned approximately 1.75% of Newell Brands at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in shares of Newell Brands by 5.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 112,448 shares of the company’s stock worth $721,000 after buying an additional 6,273 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Newell Brands by 3.8% during the second quarter. Victory Capital Management Inc. now owns 87,086 shares of the company’s stock worth $558,000 after acquiring an additional 3,228 shares in the last quarter. American Century Companies Inc. grew its holdings in Newell Brands by 28.9% in the second quarter. American Century Companies Inc. now owns 27,864 shares of the company’s stock worth $179,000 after purchasing an additional 6,247 shares during the period. Dimensional Fund Advisors LP increased its stake in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after purchasing an additional 2,668,384 shares in the last quarter. Finally, Argent Trust Co acquired a new position in shares of Newell Brands during the second quarter valued at about $142,000. Institutional investors own 92.50% of the company’s stock.

Insiders Place Their Bets

In other Newell Brands 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 value of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction 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 %

NASDAQ NWL opened at $10.16 on Friday. The business’s fifty day moving average is $9.88 and its 200-day moving average is $8.26. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a one year low of $5.39 and a one year high of $11.78.

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

Newell Brands Announces Dividend

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

Analyst Ratings Changes

NWL has been the subject of a number of research analyst reports. UBS Group boosted their target price on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday. Canaccord Genuity Group upped their target price on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their target price on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.60.

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.