Traders Buy Shares of Newell Brands Inc. (NWL) on Weakness
Traders bought shares of Newell Brands Inc. (NYSE:NWL) on weakness during trading hours on Friday. $41.33 million flowed into the stock on the tick-up and $21.52 million flowed out of the stock on the tick-down, for a money net flow of $19.81 million into the stock. Of all stocks tracked, Newell Brands had the 29th highest net in-flow for the day. Newell Brands traded down ($0.49) for the day and closed at $49.66
A number of research firms recently commented on NWL. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, July 12th. UBS AG set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Jefferies Group LLC boosted their target price on Newell Brands from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. BidaskClub downgraded Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Monday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.07.
The company has a market cap of $24.34 billion, a price-to-earnings ratio of 19.83 and a beta of 1.17. The stock’s 50 day moving average price is $52.25 and its 200 day moving average price is $50.17.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company posted $0.78 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts predict that Newell Brands Inc. will post $3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWL. DnB Asset Management AS raised its position in Newell Brands by 9.9% in the first quarter. DnB Asset Management AS now owns 50,053 shares of the company’s stock worth $2,361,000 after buying an additional 4,500 shares during the period. Boston Advisors LLC raised its position in Newell Brands by 13.6% in the first quarter. Boston Advisors LLC now owns 76,354 shares of the company’s stock worth $3,602,000 after buying an additional 9,159 shares during the period. State of Alaska Department of Revenue acquired a new position in Newell Brands during the first quarter worth $228,000. Hermes Investment Management Ltd. raised its position in Newell Brands by 2.2% in the first quarter. Hermes Investment Management Ltd. now owns 578,518 shares of the company’s stock worth $27,289,000 after buying an additional 12,525 shares during the period. Finally, Retirement Systems of Alabama raised its position in Newell Brands by 0.9% in the first quarter. Retirement Systems of Alabama now owns 507,186 shares of the company’s stock worth $23,924,000 after buying an additional 4,540 shares during the period. 94.87% of the stock is currently owned by institutional investors and hedge funds.
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About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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