Newell Brands (NASDAQ:NWL) Raised to “Overweight” at Barclays

Barclays upgraded shares of Newell Brands (NASDAQ:NWL) from an equal weight rating to an overweight rating in a report released on Wednesday, Marketbeat reports. Barclays currently has $10.00 price target on the stock, up from their prior price target of $8.00.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Royal Bank of Canada upped their price objective on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Canaccord Genuity Group raised their target price on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Truist Financial boosted their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.10.

Newell Brands Price Performance

Shares of NWL opened at $9.12 on Wednesday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -15.20, a price-to-earnings-growth ratio of 0.83 and a beta of 0.89. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $9.68. The firm has a 50-day simple moving average of $8.10 and a 200-day simple moving average of $7.54. 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 released its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Newell Brands will post 0.66 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.07%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Several hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Newell Brands during the 2nd quarter valued at $26,000. Gradient Investments LLC acquired a new stake in Newell Brands during the second quarter worth about $46,000. Quarry LP increased its stake in 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 acquiring an additional 4,056 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Newell Brands in the 2nd quarter worth about $58,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Newell Brands in the 3rd quarter valued at about $70,000. 92.50% of the stock is owned by institutional investors and hedge funds.

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.