Traders Buy Newell Brands Inc. (NWL) on Weakness
Traders bought shares of Newell Brands Inc. (NYSE:NWL) on weakness during trading hours on Friday. $122.26 million flowed into the stock on the tick-up and $32.38 million flowed out of the stock on the tick-down, for a money net flow of $89.88 million into the stock. Of all equities tracked, Newell Brands had the 33rd highest net in-flow for the day. Newell Brands traded down ($0.07) for the day and closed at $43.20
A number of brokerages have issued reports on NWL. Jefferies Group LLC cut Newell Brands from a “buy” rating to a “hold” rating and lowered their target price for the stock from $63.00 to $49.00 in a report on Monday, September 11th. Forward View reaffirmed a “buy” rating and issued a $58.00 target price on shares of Newell Brands in a report on Monday, September 11th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and issued a $50.00 target price on shares of Newell Brands in a report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a report on Tuesday, August 29th. Finally, BidaskClub cut Newell Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.36.
The firm’s 50 day moving average is $48.67 and its 200 day moving average is $50.12. The company has a market capitalization of $21.17 billion, a P/E ratio of 17.25 and a beta of 1.19.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities analysts expect that Newell Brands Inc. will post $3.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. Newell Brands’s dividend payout ratio is currently 36.95%.
In other Newell Brands news, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 7,046 shares of company stock worth $307,669. 0.97% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in NWL. Harfst & Associates Inc. purchased a new position in Newell Brands during the 1st quarter valued at about $103,000. BDO Wealth Advisors LLC purchased a new position in Newell Brands during the 2nd quarter valued at about $107,000. Israel Discount Bank of New York purchased a new position in Newell Brands during the 1st quarter valued at about $112,000. Parallel Advisors LLC increased its holdings in Newell Brands by 23.0% during the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after purchasing an additional 544 shares during the period. Finally, BB&T Investment Services Inc. purchased a new position in Newell Brands during the 2nd quarter valued at about $143,000. 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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