Newell Brands Inc (NYSE:NWL) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 41,057,474 shares, a decline of 7.7% from the January 15th total of 44,467,828 shares. Based on an average daily volume of 4,316,903 shares, the days-to-cover ratio is currently 9.5 days. Currently, 8.9% of the company’s stock are short sold.
Shares of NYSE NWL opened at $21.36 on Tuesday. Newell Brands has a 1 year low of $15.11 and a 1 year high of $29.55. The stock has a market cap of $9.64 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.31%. The ex-dividend date is Wednesday, February 27th. Newell Brands’s dividend payout ratio is currently 33.45%.
In other Newell Brands news, SVP James L. Cunningham III sold 22,331 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $23.45, for a total transaction of $523,661.95. Following the transaction, the senior vice president now owns 7,321 shares in the company, valued at $171,677.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Newell Brands by 8.4% in the fourth quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock valued at $830,211,000 after buying an additional 3,470,954 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Newell Brands by 9.4% in the fourth quarter. Pzena Investment Management LLC now owns 18,304,339 shares of the company’s stock valued at $340,278,000 after buying an additional 1,577,306 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Newell Brands by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after buying an additional 1,906,362 shares during the last quarter. Franklin Resources Inc. increased its holdings in Newell Brands by 4,814.0% in the third quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock valued at $229,568,000 after buying an additional 11,078,567 shares during the last quarter. Finally, FMR LLC increased its holdings in Newell Brands by 7.2% in the third quarter. FMR LLC now owns 7,543,540 shares of the company’s stock valued at $153,134,000 after buying an additional 507,125 shares during the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on NWL shares. Morgan Stanley set a $23.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research report on Friday, November 2nd. Zacks Investment Research lowered Newell Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 21st. TheStreet lowered Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. Finally, ValuEngine raised Newell Brands from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.67.
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About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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