Newell Brands (NASDAQ:NWL) Shares Gap Up – What’s Next?

Newell Brands Inc. (NASDAQ:NWL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.82, but opened at $9.19. Newell Brands shares last traded at $9.07, with a volume of 615,571 shares.

Wall Street Analyst Weigh In

NWL has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada increased their target price on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Truist Financial increased their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $10.00 in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Newell Brands presently has an average rating of “Hold” and an average price target of $9.10.

Newell Brands Price Performance

The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -14.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The company’s 50-day moving average is $8.02 and its 200-day moving average is $7.52. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 3.07%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Activity

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Newell Brands by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after purchasing an additional 82,337 shares in the last quarter. Versor Investments LP grew its position in Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after purchasing an additional 56,800 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after buying an additional 2,668,384 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Newell Brands during the 2nd quarter worth about $596,000. Finally, Elevated Capital Advisors LLC acquired a new position in Newell Brands during the second quarter valued at approximately $468,000. 92.50% of the stock is currently owned by institutional investors.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.