Newell Brands (NASDAQ:NWL) Hits New 52-Week High – What’s Next?

Shares of Newell Brands Inc. (NASDAQ:NWL) hit a new 52-week high during trading on Monday . The stock traded as high as $9.72 and last traded at $9.63, with a volume of 1683259 shares traded. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NWL shares. Wells Fargo & Company raised their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial raised their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group raised their price objective on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.10.

Newell Brands Trading Up 2.4 %

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The firm has a 50 day simple moving average of $8.22 and a two-hundred day simple moving average of $7.57. The firm has a market capitalization of $3.98 billion, a P/E ratio of -15.93, a PEG ratio of 0.89 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company 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 for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts forecast that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newell Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after buying an additional 82,337 shares in the last quarter. Versor Investments LP grew its holdings in Newell Brands by 135.6% during the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after buying an additional 56,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Newell Brands by 29.2% during 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 in the last quarter. Primecap Management Co. CA grew its holdings in Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after buying an additional 674,015 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in Newell Brands during the 2nd quarter valued at about $596,000. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Company Profile

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.