Newell Brands (NASDAQ:NWL) Shares Down 5.3%

Newell Brands Inc. (NASDAQ:NWL) shares dropped 5.3% during mid-day trading on Monday . The stock traded as low as $9.40 and last traded at $9.41. Approximately 1,348,712 shares traded hands during trading, a decline of 76% from the average daily volume of 5,576,428 shares. The stock had previously closed at $9.94.

Wall Street Analysts Forecast Growth

NWL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Newell Brands from $9.00 to $11.00 in a report on Monday, July 31st. Citigroup raised their price objective on Newell Brands from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. StockNews.com raised Newell Brands from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Barclays reduced their price objective on Newell Brands from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, July 20th. Finally, Raymond James reduced their price objective on Newell Brands from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Newell Brands presently has a consensus rating of “Hold” and a consensus price target of $15.64.

Newell Brands Price Performance

The company has a quick ratio of 0.62, a current ratio of 1.25 and a debt-to-equity ratio of 1.43. The company has a market cap of $3.87 billion, a P/E ratio of -12.64 and a beta of 1.00. The company has a 50-day moving average price of $10.37.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Newell Brands had a positive return on equity of 10.33% and a negative net margin of 3.53%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.15 billion. Sell-side analysts anticipate that Newell Brands Inc. will post 0.85 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.00%. Newell Brands’s dividend payout ratio (DPR) is -37.84%.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds have recently added to or reduced their stakes in NWL. Fairfield Bush & CO. bought a new stake in Newell Brands in the first quarter worth approximately $26,000. HighTower Advisors LLC increased its holdings in shares of Newell Brands by 4.5% during the first quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock valued at $401,000 after acquiring an additional 808 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after acquiring an additional 593 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Newell Brands by 23.2% during the first quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock valued at $2,206,000 after acquiring an additional 19,395 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Newell Brands by 57.9% during the first quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock valued at $1,673,000 after acquiring an additional 28,656 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.