Newell Brands Inc. (NASDAQ:NWL – Get Rating) declared a quarterly dividend on Thursday, May 5th, RTT News reports. Stockholders of record on Tuesday, May 31st will be paid a dividend of 0.23 per share on Wednesday, June 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.07%.
Newell Brands has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Newell Brands to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 43.2%.
NASDAQ:NWL opened at $22.59 on Friday. Newell Brands has a fifty-two week low of $20.36 and a fifty-two week high of $30.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 1.39. The stock’s fifty day moving average is $22.47 and its 200 day moving average is $22.85. The firm has a market capitalization of $9.34 billion, a PE ratio of 13.53 and a beta of 0.71.
NWL has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Newell Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 30th. TheStreet upgraded Newell Brands from a “c+” rating to a “b” rating in a report on Friday, April 29th. Finally, Raymond James reduced their price target on shares of Newell Brands from $33.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, April 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.33.
In other Newell Brands news, major shareholder Carl C. Icahn sold 10,634,184 shares of the stock in a transaction dated Monday, February 21st. The shares were sold at an average price of $25.86, for a total transaction of $274,999,998.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Newell Brands by 4.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 992,895 shares of the company’s stock worth $21,685,000 after purchasing an additional 46,155 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Newell Brands by 10.0% during the fourth quarter. Stifel Financial Corp now owns 107,715 shares of the company’s stock valued at $2,352,000 after buying an additional 9,784 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Newell Brands by 15.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 42,888 shares of the company’s stock valued at $937,000 after acquiring an additional 5,891 shares during the period. Allstate Corp raised its stake in Newell Brands by 339.3% in the 4th quarter. Allstate Corp now owns 63,326 shares of the company’s stock worth $1,383,000 after acquiring an additional 48,912 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Newell Brands by 8.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 1,533,248 shares of the company’s stock worth $33,486,000 after acquiring an additional 121,772 shares during the last quarter. 84.07% of the stock is owned by hedge funds and other institutional investors.
About Newell Brands (Get Rating)
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It 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 home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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