Stock Traders Purchase High Volume of Call Options on Newell Brands (NWL)
Newell Brands Inc. (NYSE:NWL) saw unusually large options trading activity on Tuesday. Stock traders acquired 24,334 call options on the stock. This is an increase of approximately 1,001% compared to the average daily volume of 2,210 call options.
NWL has been the topic of several recent analyst reports. TheStreet lowered shares of Newell Brands from a “b-” rating to a “c+” rating in a research note on Tuesday, November 14th. BMO Capital Markets cut their price target on shares of Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 7th. Forward View reaffirmed a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a research note on Sunday, November 5th. Citigroup cut their price target on shares of Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Morgan Stanley decreased their price objective on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.57.
In other Newell Brands news, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $28.22 per share, with a total value of $197,540.00. Following the completion of the acquisition, the chief executive officer now owns 616,296 shares in the company, valued at $17,391,873.12. The disclosure for this purchase can be found here. Insiders bought a total of 14,100 shares of company stock valued at $507,255 in the last three months. Insiders own 0.97% of the company’s stock.
Newell Brands (NYSE:NWL) opened at $30.97 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. Newell Brands has a 12 month low of $27.45 and a 12 month high of $55.08. The stock has a market capitalization of $15,085.28, a P/E ratio of 10.73, a PEG ratio of 1.24 and a beta of 1.20.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. Newell Brands’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. sell-side analysts anticipate that Newell Brands will post 2.81 EPS for the current fiscal year.
Newell Brands declared that its board has authorized a share repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is 35.52%.
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Newell Brands Company Profile
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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