Newell Brands (NASDAQ:NWL) Stock Price Down 3.9% – Here’s Why

Newell Brands Inc. (NASDAQ:NWL)’s stock price fell 3.9% during trading on Friday . The stock traded as low as $10.99 and last traded at $11.00. 368,233 shares traded hands during trading, a decline of 93% from the average session volume of 5,531,976 shares. The stock had previously closed at $11.45.

Wall Street Analyst Weigh In

NWL has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $17.00 in a report on Monday. Wells Fargo & Company upped their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Canaccord Genuity Group boosted their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Newell Brands Trading Down 5.2 %

The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The stock’s 50-day moving average is $8.89 and its two-hundred day moving average is $7.75. The company has a market cap of $4.51 billion, a P/E ratio of -18.33, a P/E/G ratio of 1.06 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. As a group, equities research analysts predict that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio is -46.67%.

Insider Buying and Selling

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newell Brands

Several large investors have recently modified their holdings of NWL. CWM LLC lifted its holdings in shares of Newell Brands by 56.4% in the 2nd quarter. CWM LLC now owns 22,820 shares of the company’s stock worth $146,000 after acquiring an additional 8,226 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newell Brands during the second quarter valued at approximately $92,000. Brookstone Capital Management bought a new position in shares of Newell Brands during the second quarter valued at approximately $82,000. Gradient Investments LLC purchased a new stake in shares of Newell Brands in the second quarter worth approximately $46,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Newell Brands during the 2nd quarter worth approximately $1,034,000. Institutional investors own 92.50% of the company’s stock.

About Newell Brands

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.