Newell Brands (NASDAQ:NWL) Trading Up 7.7% - Here's What Happened

Newell Brands Inc. (NASDAQ:NWL - Get Free Report)'s stock price rose 7.7% during mid-day trading on Monday . The stock traded as high as $5.58 and last traded at $5.65. Approximately 906,185 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 7,654,495 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

NWL has been the topic of several research reports. Canaccord Genuity Group dropped their target price on Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $9.00 target price on shares of Newell Brands in a research report on Monday, April 28th. Barclays lifted their price objective on Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Truist Financial lowered their price objective on Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised Newell Brands from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $6.00 to $7.00 in a research report on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.53.

Newell Brands Price Performance

The firm has a 50 day moving average of $5.30 and a 200-day moving average of $7.27. The company has a market cap of $2.27 billion, a P/E ratio of -9.22 and a beta of 0.97. The company has a current ratio of 1.13, a quick ratio of 0.54 and a debt-to-equity ratio of 1.68.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its 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. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Friday, May 30th. Newell Brands's payout ratio is -47.46%.

Institutional Trading of Newell Brands

A number of large investors have recently added to or reduced their stakes in NWL. FMR LLC increased its stake in Newell Brands by 233.6% in the 4th quarter. FMR LLC now owns 14,527,609 shares of the company's stock worth $144,695,000 after acquiring an additional 10,172,696 shares during the last quarter. AQR Capital Management LLC increased its stake in Newell Brands by 401.2% in the 1st quarter. AQR Capital Management LLC now owns 10,588,136 shares of the company's stock worth $65,382,000 after acquiring an additional 8,475,385 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Newell Brands by 25.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company's stock worth $129,249,000 after acquiring an additional 4,273,541 shares during the last quarter. Norges Bank bought a new stake in Newell Brands in the 4th quarter worth approximately $37,174,000. Finally, Dimensional Fund Advisors LP increased its stake in Newell Brands by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock worth $180,172,000 after acquiring an additional 3,188,718 shares during the last quarter. Institutional investors own 92.50% of the company's stock.

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.