Newell Brands (NASDAQ:NWL) Shares Down 5.8% - Here's What Happened

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial raised their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Canaccord Genuity Group boosted their target price on shares of Newell Brands from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Citigroup lowered shares of Newell Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $8.90.

Newell Brands Price Performance

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 market cap of $3.74 billion, a P/E ratio of -14.98, a PEG ratio of 1.52 and a beta of 0.91. The firm's 50-day moving average is $7.51 and its two-hundred day moving average is $7.34.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm's quarterly revenue was down 2.6% on a year-over-year basis. Analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 30th. Newell Brands's dividend payout ratio (DPR) is -46.67%.

Institutional Investors Weigh In On Newell Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its holdings in Newell Brands by 15.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company's stock valued at $620,000 after purchasing an additional 10,240 shares in the last quarter. M&G Plc purchased a new position in shares of Newell Brands in the first quarter valued at $9,992,000. Texas Permanent School Fund Corp increased its position in shares of Newell Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 332,914 shares of the company's stock valued at $2,673,000 after buying an additional 4,291 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Newell Brands during the first quarter valued at $80,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company's stock valued at $75,753,000 after acquiring an additional 2,668,384 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Company Profile

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.