Newell Brands (NASDAQ:NWL) Trading Down 4% - Here's What Happened

Shares of Newell Brands Inc. (NASDAQ:NWL - Get Free Report) were down 4% during trading on Thursday . The company traded as low as $5.45 and last traded at $5.45. Approximately 1,646,534 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 7,584,430 shares. The stock had previously closed at $5.68.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NWL shares. JPMorgan Chase & Co. raised Newell Brands from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $6.00 to $7.00 in a report on Friday. UBS Group decreased their price objective on shares of Newell Brands from $5.50 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Citigroup decreased their price target on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a report on Monday, April 14th. Truist Financial dropped their price target on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Newell Brands from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.53.

Newell Brands Trading Down 3.5%

The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The business's fifty day moving average is $5.24 and its 200 day moving average is $7.37. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -10.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. Newell Brands's revenue was down 5.3% compared to the same quarter last year. Equities analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Friday, May 30th. Newell Brands's payout ratio is -47.46%.

Institutional Trading of Newell Brands

Several hedge funds and other institutional investors have recently modified their holdings of NWL. Castlekeep Investment Advisors LLC bought a new stake in Newell Brands in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC boosted its stake in shares of Newell Brands by 212.6% in the 1st quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock valued at $38,000 after purchasing an additional 4,169 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Newell Brands during the fourth quarter worth $46,000. NBC Securities Inc. raised its holdings in Newell Brands by 146,542.9% during the first quarter. NBC Securities Inc. now owns 10,265 shares of the company's stock worth $63,000 after buying an additional 10,258 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of Newell Brands in the first quarter valued at about $66,000. Institutional investors 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.