Newell Brands Inc. (NWL) Sees Large Decline in Short Interest
Newell Brands Inc. (NYSE:NWL) saw a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 16,373,815 shares, a decrease of 25.1% from the December 15th total of 21,847,449 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average daily volume of 4,478,481 shares, the days-to-cover ratio is currently 3.7 days.
In related news, CEO Michael B. Polk purchased 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the acquisition, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NWL. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Newell Brands during the 2nd quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. grew its stake in Newell Brands by 52.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares during the last quarter. BT Investment Management Ltd purchased a new position in Newell Brands during the 2nd quarter worth approximately $408,000. Profund Advisors LLC grew its stake in Newell Brands by 26.6% during the 2nd quarter. Profund Advisors LLC now owns 14,582 shares of the company’s stock worth $782,000 after buying an additional 3,064 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Newell Brands by 5.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 58,890 shares of the company’s stock worth $3,158,000 after buying an additional 2,961 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.
Newell Brands (NYSE NWL) opened at $31.22 on Friday. Newell Brands has a 1-year low of $27.45 and a 1-year high of $55.08. The company has a market capitalization of $15,300.00, a PE ratio of 12.05, a PEG ratio of 1.21 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. sell-side analysts forecast that Newell Brands will post 2.81 earnings per share for the current year.
Newell Brands declared that its board has initiated a share repurchase program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Several equities research analysts have weighed in on NWL shares. KeyCorp set a $60.00 price target on Newell Brands and gave the stock a “buy” rating in a report on Monday, October 16th. Jefferies Group restated a “hold” rating and set a $47.00 price target on shares of Newell Brands in a report on Thursday, October 19th. Oppenheimer restated a “hold” rating and set a $42.00 price target on shares of Newell Brands in a report on Tuesday, October 31st. JPMorgan Chase & Co. downgraded Newell Brands from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $56.00 to $63.00 in a report on Thursday, November 2nd. Finally, Royal Bank of Canada downgraded Newell Brands from a “top pick” rating to an “outperform” rating and cut their price target for the stock from $60.00 to $35.00 in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.20.
COPYRIGHT VIOLATION NOTICE: “Newell Brands Inc. (NWL) Sees Large Decline in Short Interest” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.watchlistnews.com/newell-brands-inc-nwl-sees-large-decline-in-short-interest/1814733.html.
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.
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.