Legato Capital Management LLC Purchases Shares of 38,150 Newell Brands Inc. (NASDAQ:NWL)

Legato Capital Management LLC acquired a new position in Newell Brands Inc. (NASDAQ:NWL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 38,150 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors have also recently modified their holdings of NWL. Principal Financial Group Inc. increased its holdings in Newell Brands by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after buying an additional 82,337 shares during the period. Citigroup Inc. boosted its holdings in shares of Newell Brands by 7.7% in the 3rd quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock valued at $9,476,000 after acquiring an additional 88,164 shares during the last quarter. Versor Investments LP increased its stake in shares of Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after acquiring an additional 56,800 shares during the period. Friedenthal Financial acquired a new position in Newell Brands during the fourth quarter valued at $762,000. Finally, Wedmont Private Capital acquired a new stake in Newell Brands during the 4th quarter worth about $565,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NWL. Canaccord Genuity Group lowered their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Royal Bank of Canada cut their target price on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Monday, February 10th. UBS Group increased their price target on shares of Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Newell Brands has a consensus rating of “Hold” and a consensus price target of $10.81.

Insider Activity at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by corporate insiders.

Newell Brands Stock Performance

NWL opened at $7.05 on Friday. The firm’s fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $8.69. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -11.75, a PEG ratio of 1.09 and a beta of 0.89. 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 issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. During the same period last year, the firm posted $0.22 EPS. Equities analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, February 28th. Newell Brands’s payout ratio is -46.67%.

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.