Newell Brands (NASDAQ:NWL) Trading Down 4.7% – Here’s What Happened

Newell Brands Inc. (NASDAQ:NWL) shares were down 4.7% during trading on Monday . The stock traded as low as $5.61 and last traded at $5.63. Approximately 2,874,721 shares were traded during trading, a decline of 68% from the average daily volume of 8,993,377 shares. The stock had previously closed at $5.90.

Analysts Set New Price Targets

A number of research firms have issued reports on NWL. Citigroup reduced their price target on Newell Brands from $7.75 to $4.75 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Barclays lifted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. UBS Group dropped their target price on Newell Brands from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial decreased their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.42.

Newell Brands Price Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -10.94, a PEG ratio of 0.95 and a beta of 0.92. The stock has a 50-day moving average price of $5.53 and a 200 day moving average price of $7.86.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 4.92%. Newell Brands’s dividend payout ratio (DPR) is -47.46%.

Institutional Investors Weigh In On Newell Brands

Hedge funds have recently made changes to their positions in the business. PFG Investments LLC raised its stake in Newell Brands by 6.6% during the 4th quarter. PFG Investments LLC now owns 15,812 shares of the company’s stock valued at $157,000 after acquiring an additional 981 shares during the last quarter. TriaGen Wealth Management LLC raised its stake in shares of Newell Brands by 1.7% during the fourth quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company’s stock worth $583,000 after purchasing an additional 991 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Newell Brands by 0.9% during the fourth quarter. Arizona State Retirement System now owns 120,668 shares of the company’s stock worth $1,202,000 after purchasing an additional 1,125 shares during the period. Optas LLC grew its position in Newell Brands by 11.8% in the 4th quarter. Optas LLC now owns 12,397 shares of the company’s stock valued at $123,000 after buying an additional 1,306 shares during the last quarter. Finally, Signaturefd LLC grew its position in Newell Brands by 12.4% in the 4th quarter. Signaturefd LLC now owns 14,025 shares of the company’s stock valued at $140,000 after buying an additional 1,550 shares during the last quarter. Institutional investors and hedge funds 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.