Short Interest in Newell Brands Inc. (NASDAQ:NWL) Rises By 39.8%

Newell Brands Inc. (NASDAQ:NWL) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 22,910,000 shares, an increase of 39.8% from the March 15th total of 16,390,000 shares. Based on an average daily trading volume, of 5,340,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 5.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Raymond James downgraded Newell Brands from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. UBS Group cut shares of Newell Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $8.50 in a research report on Friday, February 16th. Royal Bank of Canada dropped their target price on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a research report on Monday, February 12th. Finally, Morgan Stanley dropped their target price on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.13.

Newell Brands Trading Down 3.7 %

NWL opened at $7.12 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16. Newell Brands has a 12 month low of $6.49 and a 12 month high of $12.74. The company has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.81.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, February 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. On average, analysts predict that Newell Brands will post 0.56 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s dividend payout ratio is currently -29.47%.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC acquired a new position in Newell Brands in the 3rd quarter worth $25,000. Versant Capital Management Inc boosted its stake in Newell Brands by 1,935.1% in the 3rd quarter. Versant Capital Management Inc now owns 2,727 shares of the company’s stock worth $25,000 after purchasing an additional 2,593 shares during the period. Fairfield Bush & CO. acquired a new position in Newell Brands in the 1st quarter worth $26,000. Resources Management Corp CT ADV boosted its stake in Newell Brands by 6,000.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 3,050 shares of the company’s stock worth $27,000 after purchasing an additional 3,000 shares during the period. Finally, Groupama Asset Managment acquired a new position in Newell Brands in the 4th quarter worth $31,000. 92.50% of the stock is owned by institutional investors and hedge funds.

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.