Newell Brands (NWL) Shares Down 5.1%
Newell Brands Inc (NYSE:NWL) traded down 5.1% on Friday . The company traded as low as $14.99 and last traded at $15.00. 6,926,641 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 7,099,183 shares. The stock had previously closed at $15.80.
A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Newell Brands from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 4th. Wells Fargo & Co restated a “buy” rating and issued a $36.00 price objective on shares of Newell Brands in a report on Thursday, December 20th. Barclays set a $16.00 price objective on shares of Newell Brands and gave the stock a “hold” rating in a report on Tuesday, February 19th. Zacks Investment Research cut shares of Newell Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 21st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $15.00 price objective on shares of Newell Brands in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.55.
The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54. The firm has a market cap of $6.66 billion, a P/E ratio of 5.45, a P/E/G ratio of 3.82 and a beta of 0.90.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Wednesday, February 27th. Newell Brands’s payout ratio is 33.45%.
Large investors have recently bought and sold shares of the company. Whitener Capital Management Inc. raised its position in Newell Brands by 3.3% in the fourth quarter. Whitener Capital Management Inc. now owns 18,544 shares of the company’s stock worth $344,000 after acquiring an additional 599 shares during the period. Proficio Capital Partners LLC raised its position in shares of Newell Brands by 67.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,545 shares of the company’s stock valued at $29,000 after purchasing an additional 624 shares during the period. Carroll Financial Associates Inc. increased its holdings in Newell Brands by 31.7% in the 4th quarter. Carroll Financial Associates Inc. now owns 3,369 shares of the company’s stock valued at $65,000 after acquiring an additional 810 shares during the last quarter. IFP Advisors Inc increased its holdings in Newell Brands by 6.4% in the 4th quarter. IFP Advisors Inc now owns 13,664 shares of the company’s stock valued at $251,000 after acquiring an additional 819 shares during the last quarter. Finally, First Hawaiian Bank increased its holdings in Newell Brands by 6.5% in the 4th quarter. First Hawaiian Bank now owns 14,379 shares of the company’s stock valued at $268,000 after acquiring an additional 883 shares during the last quarter. Hedge funds and other institutional investors own 98.42% of the company’s stock.
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About Newell Brands (NYSE:NWL)
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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