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.
COPYRIGHT VIOLATION NOTICE: “Traders Buy Shares of Newell Brands Inc. (NWL) on Weakness” was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/08/20/traders-buy-shares-of-newell-brands-inc-nwl-on-weakness.html.
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.