Investing

Pzena Investment Ups Newell Brands Stake to 10.3% From 6.7%

Fintel reports that Pzena Investment Management Llc has filed a 13G/A form with the SEC disclosing ownership of 42,742,989 shares of Newell Brands Inc (NWL). This represents 10.33% of the company.

In their previous filing dated January 21, 2022 they reported 28,342,422 shares and 6.66% of the company, an increase in shares of 50.81% and an increase in total ownership of 3.67% (calculated as current – previous percent ownership).

They have filed four 13D/G filings since January 27, 2020.

What are other large shareholders doing?

BlackRock Inc. holds 54,940,706 shares representing 13.28% ownership of the company. In it’s prior filing, the firm reported owning 54,045,290 shares, representing an increase of 1.63%. The firm increased its portfolio allocation in NWL by 7.65% over the last quarter.

Vanguard Group Inc holds 42,540,593 shares representing 10.29% ownership of the company. In it’s prior filing, the firm reported owning 43,445,148 shares, representing a decrease of 2.13%. The firm increased its portfolio allocation in NWL by 3.49% over the last quarter.

Pzena Investment Management Llc holds 38,954,635 shares representing 9.42% ownership of the company. In it’s prior filing, the firm reported owning 37,569,337 shares, representing an increase of 3.56%. The firm decreased its portfolio allocation in NWL by 16.14% over the last quarter.

Icahn Carl C holds 33,070,432 shares representing 8.00% ownership of the company. No change in the last quarter.

State Street Corp holds 22,123,066 shares representing 5.35% ownership of the company. In it’s prior filing, the firm reported owning 21,398,665 shares, representing an increase of 3.27%. The firm increased its portfolio allocation in NWL by 11.40% over the last quarter.

What is the overall institutional sentiment?

There are 1167 funds or institutions reporting positions in Newell Brands Inc. This is a decrease of 28 owner(s) or 2.34%.

Average portfolio weight of all funds dedicated to Newell Brands Inc is 0.1697%, a decrease of 8.1781%. Total shares owned by institutions decreased in the last three months by 0.84% to 441,650,584 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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