Newell Brands (NASDAQ:NWL) Upgraded to Buy at Truist Financial

Truist Financial upgraded shares of Newell Brands (NASDAQ:NWL) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat reports. They currently have $17.00 price target on the stock, up from their prior price target of $10.00.

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

Newell Brands Stock Performance

NASDAQ NWL opened at $11.51 on Monday. The company has a market capitalization of $4.79 billion, a PE 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 has a 52-week low of $5.39 and a 52-week high of $11.58. The company has a 50-day simple moving average of $8.57 and a 200 day simple moving average of $7.64.

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

Newell Brands Dividend Announcement

The business also recently disclosed 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 2.43%. The ex-dividend date is Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Buying and Selling

In other news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Institutional Trading of Newell Brands

Several hedge funds have recently added to or reduced their stakes in NWL. Massachusetts Financial Services Co. MA raised its holdings in Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after buying an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after acquiring an additional 674,015 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after acquiring an additional 2,668,384 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Newell Brands by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after purchasing an additional 137,441 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Newell Brands by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after purchasing an additional 115,459 shares during the last quarter. 92.50% of the stock is 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.