Newell Brands (NASDAQ:NWL) Upgraded by Barclays to Overweight Rating

Barclays upgraded shares of Newell Brands (NASDAQ:NWL) from an equal weight rating to an overweight rating in a research note released on Wednesday, MarketBeat.com reports. Barclays currently has $10.00 price target on the stock, up from their prior price target of $8.00.

NWL has been the subject of a number of other reports. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. 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 report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Truist Financial lifted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price target on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. One equities 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 company’s stock. According to MarketBeat.com, Newell Brands currently has an average rating of “Hold” and an average price target of $9.10.

Newell Brands Trading Up 0.2 %

Newell Brands stock opened at $8.84 on Wednesday. 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 stock has a fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $7.53. Newell Brands has a 12 month low of $5.39 and a 12 month high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results 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 analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. As a group, analysts expect that Newell Brands will post 0.66 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Insiders Place Their Bets

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new position in Newell Brands during the 2nd quarter worth $26,000. Gradient Investments LLC acquired a new position in Newell Brands in the 2nd quarter valued at approximately $46,000. Quarry LP grew its holdings 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 acquired a new position in shares of Newell Brands in the second quarter valued at $58,000. Finally, Venturi Wealth Management LLC bought a new position in Newell Brands in the third quarter worth $70,000. 92.50% of the stock is 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.