Stock Traders Buy High Volume of Newell Brands Put Options (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWLGet Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 4,269 put options on the stock. This represents an increase of 168% compared to the average daily volume of 1,593 put options.

Newell Brands Stock Down 0.2 %

Shares of NWL opened at $5.73 on Thursday. The company’s 50-day simple moving average is $7.27 and its 200-day simple moving average is $7.65. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 1.15. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.61. The stock has a market capitalization of $2.38 billion, a PE ratio of -7.96, a P/E/G ratio of 1.14 and a beta of 0.89.

Newell Brands (NASDAQ:NWLGet Free Report) last released its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that Newell Brands will post 0.6 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 4.89%. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Hedge Funds Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its holdings in Newell Brands by 106.2% in the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Newell Brands during the 4th quarter worth about $45,000. GAMMA Investing LLC purchased a new stake in Newell Brands during the fourth quarter worth approximately $61,000. Finally, Empowered Funds LLC acquired a new position in Newell Brands in the first quarter valued at approximately $80,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Newell Brands from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup increased their price target on Newell Brands from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Canaccord Genuity Group boosted their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Barclays upgraded shares of Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target for the company in a research report on Tuesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $8.52.

Read Our Latest Stock Analysis on NWL

About Newell Brands

(Get Free Report)

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.

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