Newell Brands Target of Unusually High Options Trading (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWL) was the target of some unusual options trading on Wednesday. Investors purchased 4,026 call options on the stock. This represents an increase of approximately 57% compared to the typical volume of 2,567 call options.

Insider Activity

In other news, insider Kristine Kay Malkoski sold 10,850 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $3.65, for a total transaction of $39,602.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Melanie Arlene Huet sold 91,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $4.50, for a total transaction of $409,500.00. Following the sale, the insider owned 867 shares in the company, valued at $3,901.50. The trade was a 99.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 202,750 shares of company stock worth $812,396. 1.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its holdings in Newell Brands by 5.0% during the fourth quarter. Pzena Investment Management LLC now owns 50,019,553 shares of the company’s stock worth $186,073,000 after buying an additional 2,375,782 shares in the last quarter. AQR Capital Management LLC increased its holdings in Newell Brands by 197.8% in the fourth quarter. AQR Capital Management LLC now owns 21,166,902 shares of the company’s stock valued at $78,741,000 after buying an additional 14,059,209 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Newell Brands by 0.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 18,802,600 shares of the company’s stock valued at $69,946,000 after acquiring an additional 131,796 shares during the period. Rubric Capital Management LP lifted its position in shares of Newell Brands by 17.4% during the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock valued at $52,333,000 after acquiring an additional 2,257,431 shares during the period. Finally, State Street Corp boosted its stake in shares of Newell Brands by 2.1% during the 4th quarter. State Street Corp now owns 14,615,775 shares of the company’s stock worth $54,371,000 after acquiring an additional 295,001 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Performance

NASDAQ NWL opened at $5.14 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.94. The business’s 50 day moving average is $4.84 and its two-hundred day moving average is $4.39. Newell Brands has a 12-month low of $3.07 and a 12-month high of $6.64. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -7.67, a PEG ratio of 6.35 and a beta of 0.87.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, May 1st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. Newell Brands had a positive return on equity of 8.89% and a negative net margin of 3.91%.The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned ($0.01) EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts expect that Newell Brands will post 0.57 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.4%. Newell Brands’s dividend payout ratio (DPR) is -41.79%.

Analyst Ratings Changes

NWL has been the topic of a number of analyst reports. Barclays raised their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Newell Brands in a report on Friday, May 15th. JPMorgan Chase & Co. raised their price target on Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Royal Bank Of Canada set a $4.00 price target on Newell Brands in a report on Thursday, April 9th. Finally, Canaccord Genuity Group increased their price objective on Newell Brands from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.38.

About Newell Brands

Newell Brands Inc, trading on NASDAQ under the ticker NWL, is a global consumer goods company known for its diverse portfolio of household, commercial, and specialty products. Formed through the merger of Newell Rubbermaid and Jarden Corporation in 2016, the company traces its roots back to Newell Manufacturing, which was founded in 1903. Headquartered in Atlanta, Georgia, Newell Brands has built a reputation for widely recognized brands spanning multiple consumer categories.

The company’s business activities are organized across several segments, including writing and creative expression, home solutions, commercial products, and outdoor recreation.