Newell Brands (NASDAQ:NWL) Stock Price Down 3.9% - Here's What Happened

Newell Brands Inc. (NASDAQ:NWL - Get Free Report) shares dropped 3.9% on Friday . The stock traded as low as $10.99 and last traded at $11.00. Approximately 368,233 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 5,531,976 shares. The stock had previously closed at $11.45.

Wall Street Analysts Forecast Growth

NWL has been the subject of several recent research reports. Barclays upgraded Newell Brands from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. 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 report on Monday, October 28th. Truist Financial raised shares of Newell Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $10.00 to $17.00 in a report on Monday, December 9th. Canaccord Genuity Group upped their price target on shares of Newell Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.00.

Newell Brands Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.58 billion, a PE ratio of -18.35, a PEG ratio of 1.06 and a beta of 0.90. The business has a fifty day moving average price of $8.96 and a 200-day moving average price of $7.77.

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. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Research analysts expect that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands's dividend payout ratio is presently -46.67%.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now owns 230,254 shares of the company's stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the company's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company's stock.

Institutional Trading of Newell Brands

Several large investors have recently modified their holdings of NWL. CWM LLC boosted its holdings in Newell Brands by 56.4% in the second quarter. CWM LLC now owns 22,820 shares of the company's stock valued at $146,000 after acquiring an additional 8,226 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newell Brands during the second quarter valued at about $92,000. Brookstone Capital Management purchased a new position in shares of Newell Brands during the second quarter valued at about $82,000. Gradient Investments LLC bought a new position in Newell Brands in the second quarter worth about $46,000. Finally, Neo Ivy Capital Management purchased a new stake in Newell Brands in the second quarter worth about $1,034,000. 92.50% of the stock is owned by institutional investors.

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.