Newell Brands (NASDAQ:NWL) Shares Down 2.3%

Newell Brands Inc. (NASDAQ:NWL) fell 2.3% during mid-day trading on Wednesday . The stock traded as low as $7.30 and last traded at $7.30. 93,305 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 5,027,468 shares. The stock had previously closed at $7.47.

Analysts Set New Price Targets

Several analysts have recently weighed in on NWL shares. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada upped their price objective 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. Finally, Wells Fargo & Company upped their price objective on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.82.

Newell Brands Price Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The stock has a market cap of $3.11 billion, a P/E ratio of -10.39, a P/E/G ratio of 1.27 and a beta of 0.91. The company’s 50 day simple moving average is $7.28 and its 200 day simple moving average is $7.35.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio is -38.89%.

Institutional Investors Weigh In On Newell Brands

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

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.