Newell Brands (NASDAQ:NWL) Sets New 52-Week High After Analyst Upgrade

Newell Brands Inc. (NASDAQ:NWL) reached a new 52-week high during mid-day trading on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $17.00 price target on the stock, up from their previous price target of $10.00. Newell Brands traded as high as $10.70 and last traded at $10.70, with a volume of 28811 shares traded. The stock had previously closed at $10.31.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Canaccord Genuity Group upped their price objective on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.00.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Institutional Trading of Newell Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Newell Brands by 56.4% during the second quarter. CWM LLC now owns 22,820 shares of the company’s stock worth $146,000 after buying an additional 8,226 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newell Brands during the second quarter valued at approximately $92,000. Brookstone Capital Management bought a new stake in Newell Brands during the second quarter worth $82,000. Gradient Investments LLC bought a new position in Newell Brands during the 2nd quarter valued at $46,000. Finally, Neo Ivy Capital Management bought a new position in Newell Brands during the 2nd quarter valued at $1,034,000. 92.50% of the stock is owned by institutional investors.

Newell Brands Stock Performance

The company’s 50 day moving average price is $8.57 and its 200-day moving average price is $7.64. The stock has a market cap of $4.79 billion, a P/E ratio of -19.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

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

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, November 29th. Newell Brands’s dividend payout ratio is -46.67%.

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.