Cornercap Investment Counsel Inc. Takes $556,000 Position in Newell Brands Inc. (NASDAQ:NWL)

Cornercap Investment Counsel Inc. bought a new stake in shares of Newell Brands Inc. (NASDAQ:NWL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 64,023 shares of the company’s stock, valued at approximately $556,000.

Several other hedge funds have also modified their holdings of NWL. Avior Wealth Management LLC purchased a new stake in shares of Newell Brands during the third quarter valued at $25,000. Versant Capital Management Inc lifted its holdings in shares of Newell Brands by 1,935.1% during the third quarter. Versant Capital Management Inc now owns 2,727 shares of the company’s stock valued at $25,000 after purchasing an additional 2,593 shares during the last quarter. Fairfield Bush & CO. acquired a new position in Newell Brands during the first quarter valued at $26,000. Resources Management Corp CT ADV raised its position in Newell Brands by 6,000.0% during the second quarter. Resources Management Corp CT ADV now owns 3,050 shares of the company’s stock valued at $27,000 after buying an additional 3,000 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new position in Newell Brands during the third quarter valued at $51,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays upped their price target on Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. Raymond James lowered Newell Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. UBS Group lowered Newell Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $8.50 in a research report on Friday, February 16th. Morgan Stanley dropped their price target on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, Citigroup dropped their price target on Newell Brands from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Newell Brands has an average rating of “Hold” and a consensus target price of $9.13.

Newell Brands Stock Performance

NWL opened at $6.95 on Wednesday. The stock’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.77. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47. Newell Brands Inc. has a 12-month low of $6.49 and a 12-month high of $12.74.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $0.16 EPS. Newell Brands’s revenue for the quarter was down 8.1% compared to the same quarter last year. Sell-side analysts predict that Newell Brands Inc. will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s payout ratio is presently -29.47%.

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.