Newell Brands (NASDAQ:NWL) Sets New 52-Week High – Here’s Why

Newell Brands Inc. (NASDAQ:NWL) reached a new 52-week high on Monday . The company traded as high as $9.74 and last traded at $9.71, with a volume of 1959039 shares trading hands. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NWL shares. Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company upped 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. Finally, Canaccord Genuity Group raised their target price on shares of Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Newell Brands presently has an average rating of “Hold” and an average target price of $9.10.

Newell Brands Stock Up 1.5 %

The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -15.98, a price-to-earnings-growth ratio of 0.89 and a beta of 0.89. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average price of $8.31 and a 200 day moving average price of $7.58.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company’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 firm posted $0.39 EPS. As a group, analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, November 29th. Newell Brands’s payout ratio 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 stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC bought a new stake in Newell Brands during the 3rd quarter valued at $326,000. Virtu Financial LLC acquired a new position in shares of Newell Brands during the third quarter valued at about $225,000. Geode Capital Management LLC raised its holdings in shares of Newell Brands by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after acquiring an additional 115,459 shares during the last quarter. M&T Bank Corp lifted its position in Newell Brands by 6.7% in the 3rd quarter. M&T Bank Corp now owns 50,694 shares of the company’s stock valued at $389,000 after acquiring an additional 3,202 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in Newell Brands by 35.4% during the 3rd quarter. MML Investors Services LLC now owns 42,821 shares of the company’s stock worth $329,000 after purchasing an additional 11,201 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

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.