Newell Brands (NASDAQ:NWL) Hits New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

NWL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Truist Financial lifted their price target on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Canaccord Genuity Group lifted their price target on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and a consensus price target of $9.10.

Newell Brands Stock Performance

The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -15.93, a P/E/G ratio of 0.89 and a beta of 0.89. The company’s fifty day simple moving average is $8.22 and its 200 day simple moving average is $7.57. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

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

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 2.93%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Activity at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now directly owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in shares of Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after acquiring an additional 1,345 shares during the last quarter. Centaurus Financial Inc. raised its holdings in Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after buying an additional 1,762 shares during the last quarter. Arizona State Retirement System raised its holdings in Newell Brands by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after buying an additional 2,394 shares during the last quarter. Tidal Investments LLC raised its holdings in Newell Brands by 3.0% in the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock valued at $671,000 after buying an additional 2,407 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Newell Brands by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after buying an additional 2,490 shares during the last quarter. 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.