Newell Brands (NASDAQ:NWL) Shares Down 5.8% – Here’s What Happened

Shares of Newell Brands Inc. (NASDAQ:NWL) dropped 5.8% during mid-day trading on Tuesday . The company traded as low as $8.97 and last traded at $8.98. 3,239,815 shares were traded during mid-day trading, a decline of 41% from the average session volume of 5,506,793 shares. The stock had previously closed at $9.53.

Analyst Upgrades and Downgrades

Several research analysts have commented on NWL shares. Wells Fargo & Company upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Royal Bank of Canada increased their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Canaccord Genuity Group upped their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average price target of $8.90.

Newell Brands Trading Down 1.9 %

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 has a fifty day moving average of $7.54 and a 200-day moving average of $7.35. The firm has a market capitalization of $3.66 billion, a PE ratio of -14.55, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Newell Brands’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, August 30th. Newell Brands’s payout ratio is currently -46.67%.

Institutional Trading of Newell Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in Newell Brands during the second quarter valued at approximately $26,000. Gradient Investments LLC bought a new stake in shares of Newell Brands in the 2nd quarter worth about $46,000. Quarry LP increased its position in shares of Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares in the last quarter. Innealta Capital LLC bought a new position in Newell Brands during the 2nd quarter valued at about $58,000. Finally, GAMMA Investing LLC boosted its position in Newell Brands by 40.4% in the second quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $76,000 after buying an additional 3,412 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

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.