Newell Brands Inc. (NYSE:NWL) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 23,764,792 shares, a growth of 16.4% from the November 15th total of 20,420,164 shares. Based on an average daily trading volume, of 7,915,135 shares, the short-interest ratio is currently 3.0 days. Approximately 4.9% of the company’s shares are sold short.
Newell Brands (NWL) traded up $0.35 during mid-day trading on Friday, reaching $32.26. The company had a trading volume of 3,520,000 shares, compared to its average volume of 5,490,000. Newell Brands has a fifty-two week low of $27.45 and a fifty-two week 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. The firm has a market cap of $15,810.00, a P/E ratio of 12.46, a P/E/G ratio of 1.20 and a beta of 1.10.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. equities analysts predict that Newell Brands will post 2.81 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is currently 35.52%.
Newell Brands declared that its board has authorized 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after purchasing an additional 1,305,820 shares in the last quarter. Capital World Investors increased its holdings in Newell Brands by 2.0% during the 2nd quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock worth $1,672,723,000 after purchasing an additional 610,973 shares in the last quarter. BlackRock Inc. increased its holdings in Newell Brands by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock worth $1,636,402,000 after purchasing an additional 543,779 shares in the last quarter. FMR LLC increased its holdings in Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after purchasing an additional 52,553 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Newell Brands by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock worth $339,074,000 after purchasing an additional 225,484 shares in the last quarter. 94.29% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on NWL. ValuEngine lowered Newell Brands from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Newell Brands from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research note on Monday, January 8th. BMO Capital Markets dropped their price objective on Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 7th. Oppenheimer reissued a “hold” rating and issued a $42.00 price objective on shares of Newell Brands in a research note on Tuesday, October 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Newell Brands from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.20.
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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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