Newell Brands (NASDAQ:NWL) Hits New 1-Year High – Here’s What Happened

Shares of Newell Brands Inc. (NASDAQ:NWL) reached a new 52-week high during trading on Monday . The stock traded as high as $9.74 and last traded at $9.71, with a volume of 1959039 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NWL shares. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group lifted their price objective on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.10.

Newell Brands Stock Performance

The company has a 50 day moving average of $8.41 and a two-hundred day moving average of $7.60. The company has a market capitalization of $4.04 billion, a PE ratio of -16.18, a PEG ratio of 0.90 and a beta of 0.90. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, November 29th. Newell Brands’s payout ratio is presently -46.67%.

Insider Activity at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Newell Brands during the 2nd quarter valued at $26,000. Gradient Investments LLC bought a new position in shares of Newell Brands in the second quarter worth about $46,000. Quarry LP grew its position in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares in the last quarter. Innealta Capital LLC purchased a new position in Newell Brands in the 2nd quarter worth approximately $58,000. Finally, Venturi Wealth Management LLC bought a new position in Newell Brands in the 3rd quarter worth approximately $70,000. 92.50% of the stock is currently owned by institutional investors.

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.