Newell Brands (NYSE:NWL) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report released on Thursday, The Fly reports.
Other research analysts have also issued reports about the stock. Barclays lowered shares of Newell Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $26.00 in a research note on Thursday. Deutsche Bank assumed coverage on shares of Newell Brands in a research note on Wednesday, December 13th. They set a “hold” rating and a $32.00 target price on the stock. Royal Bank of Canada lowered shares of Newell Brands from a “top pick” rating to an “outperform” rating and cut their target price for the stock from $60.00 to $35.00 in a research note on Friday, November 3rd. ValuEngine lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, KeyCorp set a $60.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.73.
Newell Brands (NYSE:NWL) traded down $0.42 during trading hours on Thursday, hitting $31.23. 5,255,100 shares of the stock were exchanged, compared to its average volume of 4,517,581. 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 company has a market cap of $12,090.00, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.21 and a beta of 1.10.
Newell Brands declared that its board has authorized a stock buyback program on Thursday, November 2nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk acquired 7,000 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the acquisition, the chief executive officer now owns 616,296 shares in the company, valued at approximately $17,391,873.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Churchill Management raised its holdings in shares of Newell Brands by 4.4% in the fourth quarter. Churchill Management now owns 97,870 shares of the company’s stock valued at $4,314,000 after purchasing an additional 4,144 shares during the last quarter. CIBC World Markets purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $1,381,000. Capstone Asset Management Company raised its holdings in shares of Newell Brands by 28.5% in the fourth quarter. Capstone Asset Management Company now owns 27,101 shares of the company’s stock valued at $1,195,000 after purchasing an additional 6,015 shares during the last quarter. USS Investment Management purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $64,290,000. Finally, Chevy Chase Trust Holdings raised its holdings in shares of Newell Brands by 0.4% in the fourth quarter. Chevy Chase Trust Holdings now owns 215,785 shares of the company’s stock valued at $9,512,000 after purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
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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.
