Newell Brands (NASDAQ:NWL) Sets New 52-Week High – Here’s What Happened

Newell Brands Inc. (NASDAQ:NWL)’s stock price hit a new 52-week high on Monday . The stock traded as high as $9.72 and last traded at $9.63, with a volume of 1683259 shares trading hands. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NWL. Truist Financial increased their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.10.

Newell Brands Stock Performance

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 company’s 50-day moving average is $8.10 and its two-hundred day moving average is $7.54.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, research analysts expect that Newell Brands Inc. will post 0.66 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, December 13th. Shareholders of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the 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 sale, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in Newell Brands during the second quarter worth approximately $26,000. Gradient Investments LLC acquired a new stake in Newell Brands during the 2nd quarter worth approximately $46,000. Quarry LP boosted its stake in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after purchasing an additional 4,056 shares during the period. Innealta Capital LLC acquired a new position in Newell Brands in the 2nd quarter valued at $58,000. Finally, Venturi Wealth Management LLC bought a new position in Newell Brands during the 3rd quarter worth $70,000. 92.50% of the stock is owned by institutional investors.

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.