Newell Brands (NASDAQ:NWL) Sets New 1-Year High Following Analyst Upgrade

Newell Brands Inc. (NASDAQ:NWL)’s stock price reached a new 52-week high during 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 trading hands. The stock had previously closed at $10.31.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Wells Fargo & Company raised their price target 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. Canaccord Genuity Group boosted their price objective on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup lowered Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus target price of $10.00.

Insider Buying and Selling

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The shares were 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.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. Massachusetts Financial Services Co. MA lifted its holdings in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA raised its holdings in Newell Brands by 4.8% during the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after purchasing an additional 674,015 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Newell Brands by 1.4% during the 2nd 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 in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Newell Brands by 1.8% during the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock valued at $50,973,000 after acquiring an additional 115,459 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Trading Up 1.0 %

The firm has a market capitalization of $4.84 billion, a PE ratio of -19.10, a P/E/G ratio of 0.95 and a beta of 0.90. The business’s fifty day moving average price is $8.65 and its 200 day moving average price is $7.67. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates 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 revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. As a group, analysts expect that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s 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.