Newell Brands Inc. (NASDAQ:NWL) Short Interest Update

Newell Brands Inc. (NASDAQ:NWL) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 22,610,000 shares, a growth of 21.0% from the February 28th total of 18,680,000 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily volume of 8,340,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC raised its holdings in Newell Brands by 233.6% during the fourth quarter. FMR LLC now owns 14,527,609 shares of the company’s stock valued at $144,695,000 after buying an additional 10,172,696 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Newell Brands in the 4th quarter valued at $72,431,000. Norges Bank bought a new position in Newell Brands in the 4th quarter worth $37,174,000. Dimensional Fund Advisors LP lifted its position in Newell Brands by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company’s stock worth $180,172,000 after acquiring an additional 3,188,718 shares during the last quarter. Finally, FIL Ltd boosted its holdings in Newell Brands by 109.2% during the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company’s stock valued at $56,980,000 after acquiring an additional 2,986,426 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NWL. JPMorgan Chase & Co. boosted their price target on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Citigroup decreased their target price on shares of Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada reduced their price objective on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on Newell Brands from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Newell Brands currently has an average rating of “Hold” and a consensus target price of $10.58.

Newell Brands Trading Down 5.0 %

Shares of NWL opened at $5.96 on Thursday. The company has a market capitalization of $2.48 billion, a PE ratio of -11.45, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The stock has a fifty day moving average of $7.42 and a two-hundred day moving average of $8.48.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, analysts forecast that Newell Brands will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands’s dividend payout ratio is currently -53.85%.

Newell Brands Company Profile

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.