Deutsche Bank started coverage on shares of Newell Brands (NYSE:NWL) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm issued a hold rating and a $32.00 target price on the stock.
A number of other research firms have also recently issued reports on NWL. Oppenheimer reiterated a hold rating and issued a $50.00 target price on shares of Newell Brands in a research note on Wednesday, September 6th. J P Morgan Chase & Co cut shares of Newell Brands from an overweight rating to a neutral rating and lifted their target price for the company from $56.00 to $63.00 in a research note on Thursday, November 2nd. Jefferies Group restated a hold rating and issued a $47.00 price objective on shares of Newell Brands in a research note on Thursday, October 19th. Barclays restated a buy rating and issued a $35.00 price objective on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial restated a market perform rating on shares of Newell Brands in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $46.73.
Newell Brands (NYSE NWL) traded up $0.11 during midday trading on Wednesday, reaching $30.59. 11,402,605 shares of the company’s stock were exchanged, compared to its average volume of 6,723,910. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. The firm has a market capitalization of $14,938.25, a PE ratio of 10.62, a PEG ratio of 1.23 and a beta of 1.10. Newell Brands has a 1 year low of $27.45 and a 1 year high of $55.08.
Newell Brands announced that its Board of Directors has authorized a share buyback program on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
In other news, CEO Michael B. Polk acquired 7,000 shares of Newell Brands stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. AXA increased its position in Newell Brands by 22.6% during the third quarter. AXA now owns 307,936 shares of the company’s stock worth $13,140,000 after acquiring an additional 56,694 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Newell Brands by 0.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,253,510 shares of the company’s stock worth $53,488,000 after acquiring an additional 7,500 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Newell Brands during the third quarter worth $238,000. GSA Capital Partners LLP bought a new position in Newell Brands during the third quarter worth $2,337,000. Finally, Belpointe Asset Management LLC bought a new position in Newell Brands during the third quarter worth $226,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Company Profile
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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