Traders sold shares of Newell Brands Inc. (NYSE:NWL) on strength during trading hours on Wednesday. $27.75 million flowed into the stock on the tick-up and $51.12 million flowed out of the stock on the tick-down, for a money net flow of $23.37 million out of the stock. Of all stocks tracked, Newell Brands had the 18th highest net out-flow for the day. Newell Brands traded up $0.23 for the day and closed at $28.20
NWL has been the subject of a number of research reports. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Jefferies Group LLC lowered Newell Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $63.00 to $49.00 in a report on Monday, September 11th. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 target price (down from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. J P Morgan Chase & Co decreased their price target on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $50.00 target price on shares of Newell Brands in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.57.
The firm has a market capitalization of $13,820.00, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. research analysts anticipate that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.26%. Newell Brands’s payout ratio is 35.52%.
Newell Brands announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other Newell Brands news, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction dated Monday, September 11th. The stock was bought at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,100 shares of company stock valued at $507,255. 0.97% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in NWL. LS Investment Advisors LLC grew its stake in shares of Newell Brands by 3.2% during the second quarter. LS Investment Advisors LLC now owns 10,447 shares of the company’s stock valued at $560,000 after acquiring an additional 328 shares in the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Newell Brands by 220.5% during the second quarter. Duncker Streett & Co. Inc. now owns 12,660 shares of the company’s stock worth $679,000 after purchasing an additional 8,710 shares during the last quarter. Cohen Lawrence B lifted its position in shares of Newell Brands by 8.0% during the second quarter. Cohen Lawrence B now owns 41,595 shares of the company’s stock worth $2,230,000 after purchasing an additional 3,070 shares during the last quarter. Rosenbaum Jay D. lifted its position in shares of Newell Brands by 16.0% during the second quarter. Rosenbaum Jay D. now owns 8,940 shares of the company’s stock worth $479,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Newell Brands during the second quarter worth about $9,621,000. Institutional investors own 89.67% of the company’s stock.
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About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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