Traders Buy Shares of Newell Brands Inc. (NWL) on Weakness
Investors bought shares of Newell Brands Inc. (NYSE:NWL) on weakness during trading hours on Wednesday. $15.07 million flowed into the stock on the tick-up and $9.73 million flowed out of the stock on the tick-down, for a money net flow of $5.34 million into the stock. Of all companies tracked, Newell Brands had the 13th highest net in-flow for the day. Newell Brands traded down ($1.67) for the day and closed at $47.05
Several research analysts recently issued reports on NWL shares. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Newell Brands currently has a consensus rating of “Buy” and a consensus target price of $58.07.
The firm has a market cap of $23.05 billion, a P/E ratio of 18.78 and a beta of 1.19. The stock’s 50-day moving average price is $50.64 and its 200-day moving average price is $50.37.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts anticipate that Newell Brands Inc. will post $3.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
Several large investors have recently added to or reduced their stakes in NWL. BlackRock Inc. grew its holdings in shares of Newell Brands by 3,249.0% during the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock worth $1,413,905,000 after purchasing an additional 29,079,686 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after purchasing an additional 7,331,309 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Newell Brands in the second quarter worth approximately $124,839,000. Ameriprise Financial Inc. lifted its stake in shares of Newell Brands by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after acquiring an additional 1,709,917 shares during the period. Finally, Sentry Investments Corp. lifted its stake in shares of Newell Brands by 75.7% in the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock worth $175,108,000 after acquiring an additional 1,599,100 shares during the period. Institutional investors own 92.43% of the company’s stock.
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Newell Brands Company Profile
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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