Newell Brands (NASDAQ:NWL) Stock Price Down 1.4%

Newell Brands Inc. (NASDAQ:NWL) shares were down 1.4% during mid-day trading on Friday . The stock traded as low as $7.19 and last traded at $7.20. Approximately 190,002 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 4,946,197 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

A number of brokerages have commented on NWL. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Canaccord Genuity Group increased their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Newell Brands currently has an average rating of “Hold” and an average price target of $8.82.

Newell Brands Trading Up 1.4 %

The firm has a market cap of $3.07 billion, a PE ratio of -10.28, a PEG ratio of 1.47 and a beta of 0.88. The firm has a fifty day simple moving average of $6.92 and a two-hundred day simple moving average of $7.37. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.15. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. Equities analysts forecast that Newell Brands Inc. will post 0.64 EPS for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.07 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.78%. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Institutional Investors Weigh In On Newell Brands

Several hedge funds have recently made changes to their positions in NWL. Norges Bank bought a new stake in Newell Brands during the fourth quarter worth about $32,781,000. Dimensional Fund Advisors LP grew its stake in shares of Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after buying an additional 2,668,384 shares during the last quarter. Primecap Management Co. CA increased its position in Newell Brands by 35.1% during the 4th quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after buying an additional 2,209,672 shares in the last quarter. AQR Capital Management LLC raised its stake in Newell Brands by 106.7% during the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock valued at $16,042,000 after buying an additional 1,314,514 shares during the last quarter. Finally, M&G Plc bought a new stake in Newell Brands in the first quarter worth $9,992,000. 92.50% of the stock is currently owned by institutional investors.

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.