Updated from 10:18 a.m. EST with closing price, Jim Cramer comments

Newell Brands (NWL - Get Report)  fell 5.67% to $44.23 on heavy trading volume Monday after the company reported fourth-quarter revenue that trailed Wall Street's estimates. 

The Hoboken, NJ-based company posted revenue of $4.14 billion, which missed analysts' expectations of $4.27 billion. Adjusted earnings of 80 cents per share were in line with analysts' forecasts. More than 13.63 million of the company's shares changed hands today vs. its average 30-day volume of 3.58 million shares. 

But the consumer products company raised its full-year profit guidance. It now expects fiscal 2017 earnings per share between $2.95 and $3.15, up from its prior view for $2.85 to $3.05. Analysts are looking for full-year earnings of $3.00 per share, according to FactSet.

Full-year revenue is projected to be between $14.52 billion and $14.72 billion, which represents growth of 9.5% to 11% year-over-year. But the range falls short of analysts' estimates of $15.16 billion.

Newell now sees 2017 core sales growth between 2.5% to 4% compared to previous guidance for an increase of 3% to 4%. The guidance reflects lowered expectations for U.S. mall-based retail traffic as some department stores have reduced store counts.

The full-year outlook also takes into account current expectations for timing of acquisitions and divestitures and negative impact from foreign exchange. Last year, Newell said it would divest about 10% of its portfolio, or about $1.5 billion of annualized revenue. The company expects to complete the divestitures in the first half of this year.

"As the market rebalances its near-term views on the name, we recommended members pick up additional shares on the selloff this morning, given our long-term conviction in the restructuring story," TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS charitable trust, and team wrote in an article today. 

Due to the difficult retail macro backdrop, investors have a more pointed focus on the downside guidance for core sales growth, explaining the downward move in shares today even while the integration activities remain on track, Cramer noted. 

More bolt-on acquisitions could be in the company's future. CEO Michael Polk sees "huge opportunity" in the company's core categories to roll up market share globally.

"When we can complement our organic agenda with bolt on M&A in the core, we go for it," Polk said in an interview with TheStreet this morning.

The company bought storage container maker Sistema Plastics and candle company Smith Mountain Industries for $470 million and $100 million, respectively, in December.

The company's priority for capital allocation up to now had been debt repayment following its blockbuster $15 billion acquisition of Jarden Corp. last year. In 2016, the company repaid about $2.1 billion in debt and expects to pay down $1.5 billion this year.

As for the new Trump administration, Polk said it was "too early to really know how new policies, whether its tax reform or trade reform, will impact the business." 

"I don't think that either of those issues will present themselves in 2017. I'd be surprised if they had a material impact on this year," he said.

But if the Trump administration does put out policies in these areas, Polk wondered if there could be a U.S. GDP growth environment that's "more favorable" in 2018.

Newell is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells NWL? Learn more now.