Investors Buy Newell Brands Inc. (NWL) on Weakness
Traders purchased shares of Newell Brands Inc. (NYSE:NWL) on weakness during trading hours on Friday. $30.77 million flowed into the stock on the tick-up and $19.25 million flowed out of the stock on the tick-down, for a money net flow of $11.52 million into the stock. Of all equities tracked, Newell Brands had the 27th highest net in-flow for the day. Newell Brands traded down ($0.20) for the day and closed at $50.00
NWL has been the subject of several research reports. Wells Fargo & Company cut Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research note on Monday, May 1st. Zacks Investment Research cut Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. B. Riley reissued a “buy” rating and issued a $71.00 target price on shares of Newell Brands in a research note on Friday, April 14th. BidaskClub cut Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price (up from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $58.07.
The company has a 50 day moving average price of $52.74 and a 200 day moving average price of $50.02. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 20.05 and a beta of 1.17.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. Newell Brands’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Equities analysts anticipate that Newell Brands Inc. will post $3.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s dividend payout ratio is currently 36.95%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of The West raised its position in shares of Newell Brands by 36.4% in the first quarter. Bank of The West now owns 16,139 shares of the company’s stock valued at $761,000 after buying an additional 4,308 shares in the last quarter. DnB Asset Management AS raised its position in shares of Newell Brands by 9.9% in the first quarter. DnB Asset Management AS now owns 50,053 shares of the company’s stock valued at $2,361,000 after buying an additional 4,500 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in shares of Newell Brands by 16.8% in the first quarter. Palisade Capital Management LLC NJ now owns 248,849 shares of the company’s stock worth $11,738,000 after buying an additional 35,773 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Newell Brands by 0.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 64,482 shares of the company’s stock worth $3,042,000 after buying an additional 400 shares during the last quarter. Finally, Regent Investment Management LLC increased its stake in shares of Newell Brands by 25.1% in the first quarter. Regent Investment Management LLC now owns 18,835 shares of the company’s stock worth $888,000 after buying an additional 3,775 shares during the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.
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About Newell Brands
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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