Newell Brands (NASDAQ:NWL) Trading Down 2.3%

Newell Brands Inc. (NASDAQ:NWL) shares dropped 2.3% on Wednesday . The company traded as low as $7.30 and last traded at $7.30. Approximately 93,305 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 5,027,468 shares. The stock had previously closed at $7.47.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NWL shares. Royal Bank of Canada raised their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Truist Financial boosted their target price on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Canaccord Genuity Group raised their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.82.

Newell Brands Stock Down 2.0 %

The firm’s 50 day moving average is $7.24 and its 200-day moving average is $7.35. The firm has a market cap of $3.04 billion, a PE ratio of -10.38, a P/E/G ratio of 1.27 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.15. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.83%. Newell Brands’s dividend payout ratio is presently -38.89%.

Institutional Investors Weigh In On Newell Brands

Several institutional investors and hedge funds have recently bought and sold shares of NWL. Rothschild Investment LLC acquired a new position in Newell Brands in the 2nd quarter worth approximately $26,000. Quarry LP grew its holdings in shares of Newell Brands by 106.2% during the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares in the last quarter. NBC Securities Inc. lifted its stake in Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after acquiring an additional 1,780 shares in the last quarter. Quest Partners LLC acquired a new stake in Newell Brands during the 4th quarter worth about $45,000. Finally, Gradient Investments LLC purchased a new position in Newell Brands during the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

About Newell Brands

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.