Newell Brands Inc. (NYSE:NWL) hit a new 52-week low during trading on Thursday . The company traded as low as $40.59 and last traded at $40.61, with a volume of 3,054,390 shares trading hands. The stock had previously closed at $41.21.
NWL has been the topic of a number of research reports. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the company a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price objective (down from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Forward View reissued a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.38.
The stock has a market cap of $19.93 billion, a P/E ratio of 16.24 and a beta of 1.15. The stock has a 50 day moving average of $43.58 and a 200-day moving average of $49.16.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts predict that Newell Brands Inc. will post $3.00 earnings per share for the current fiscal year.
Newell Brands announced that its board has initiated a stock buyback program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Michael B. Polk acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,100 shares of company stock worth $309,715. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NWL. Harfst & Associates Inc. acquired a new stake in Newell Brands during the 1st quarter worth about $103,000. BDO Wealth Advisors LLC acquired a new stake in Newell Brands during the 2nd quarter worth about $107,000. Parallel Advisors LLC raised its holdings in Newell Brands by 23.0% during the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the period. BB&T Investment Services Inc. acquired a new stake in Newell Brands during the 2nd quarter worth about $143,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Newell Brands during the 1st quarter worth about $156,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.
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About Newell Brands
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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