Newell Brands Inc. (NWL) Short Interest Update
Newell Brands Inc. (NYSE:NWL) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 23,764,792 shares, an increase of 16.4% from the November 15th total of 20,420,164 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily volume of 7,915,135 shares, the days-to-cover ratio is currently 3.0 days.
Newell Brands (NYSE NWL) opened at $30.81 on Wednesday. The company has a market cap of $15,100.00, a PE ratio of 10.66, a PEG ratio of 1.23 and a beta of 1.10. Newell Brands has a 1-year low of $27.45 and a 1-year high of $55.08. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.
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 for the quarter, compared to the consensus estimate of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. Newell Brands’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. research analysts anticipate that Newell Brands will post 2.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.99%. The ex-dividend date was Wednesday, November 29th. Newell Brands’s dividend payout ratio is currently 35.52%.
In other Newell Brands news, CEO Michael B. Polk purchased 7,000 shares of the company’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 616,296 shares in the company, valued at approximately $17,391,873.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BDO Wealth Advisors LLC bought a new position in Newell Brands during the 2nd quarter valued at about $107,000. Parkside Investments LLC acquired a new stake in Newell Brands in the 3rd quarter valued at about $107,000. Harfst & Associates Inc. increased its position in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after acquiring an additional 315 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Newell Brands in the 2nd quarter valued at about $143,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after acquiring an additional 1,088 shares in the last quarter. 94.31% of the stock is owned by hedge funds and other institutional investors.
NWL has been the topic of a number of research analyst reports. Oppenheimer reiterated a “hold” rating and issued a $50.00 target price on shares of Newell Brands in a research note on Wednesday, September 6th. J P Morgan Chase & Co lowered shares of Newell Brands from an “overweight” rating to a “neutral” rating and raised their target price for the company from $56.00 to $63.00 in a research note on Thursday, November 2nd. Jefferies Group reiterated a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Barclays reiterated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $46.73.
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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