Newell Brands Inc. (NASDAQ:NWL – Get Free Report) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Thursday, August 31st will be paid a dividend of 0.07 per share on Friday, September 15th. This represents a $0.28 annualized dividend and a dividend yield of 2.62%.
Newell Brands has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newell Brands to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 25.7%.
Newell Brands Stock Down 0.1 %
Shares of NASDAQ NWL opened at $10.67 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.25 and a debt-to-equity ratio of 1.43. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -14.42 and a beta of 0.98. The firm’s 50-day simple moving average is $9.57 and its 200 day simple moving average is $10.62. Newell Brands has a 12-month low of $7.80 and a 12-month high of $21.55.
Analysts Set New Price Targets
NWL has been the topic of a number of recent research reports. Citigroup lifted their price target on Newell Brands from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. Canaccord Genuity Group lifted their price objective on Newell Brands from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Barclays cut their price objective on Newell Brands from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Newell Brands from $9.00 to $11.00 in a research note on Monday, July 31st. Finally, StockNews.com upgraded Newell Brands to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.08.
Read Our Latest Research Report on Newell Brands
Hedge Funds Weigh In On Newell Brands
A number of hedge funds have recently made changes to their positions in NWL. Fairfield Bush & CO. bought a new position in shares of Newell Brands in the first quarter worth about $26,000. HighTower Advisors LLC boosted its stake in Newell Brands by 4.5% during the first quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock valued at $401,000 after buying an additional 808 shares during the last quarter. Private Advisor Group LLC boosted its stake in Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after buying an additional 593 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Newell Brands by 23.2% during the first quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock valued at $2,206,000 after buying an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Newell Brands by 57.9% during the first quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock valued at $1,673,000 after buying an additional 28,656 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.
About Newell Brands
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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