Newell Brands (NASDAQ:NWL) Trading Down 4.3% Following Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL) was down 4.3% on Tuesday after Citigroup lowered their price target on the stock from $7.75 to $4.75. Citigroup currently has a neutral rating on the stock. Newell Brands traded as low as $4.82 and last traded at $4.78. Approximately 1,037,097 shares were traded during trading, a decline of 84% from the average daily volume of 6,599,211 shares. The stock had previously closed at $4.99.

NWL has been the topic of several other reports. UBS Group raised their price objective on shares of Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Canaccord Genuity Group dropped their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada decreased their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, February 10th. Finally, Barclays upped their price target on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.81.

Institutional Trading of Newell Brands

Several hedge funds have recently modified their holdings of the company. FMR LLC increased its position in Newell Brands by 233.6% in the fourth quarter. FMR LLC now owns 14,527,609 shares of the company’s stock worth $144,695,000 after purchasing an additional 10,172,696 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Newell Brands in the 4th quarter worth $72,431,000. Norges Bank bought a new stake in shares of Newell Brands in the 4th quarter worth about $37,174,000. Dimensional Fund Advisors LP raised its position in shares of Newell Brands by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company’s stock valued at $180,172,000 after buying an additional 3,188,718 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Newell Brands by 109.2% in the 4th quarter. FIL Ltd now owns 5,720,884 shares of the company’s stock valued at $56,980,000 after acquiring an additional 2,986,426 shares during the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Trading Down 5.2 %

The company has a 50-day moving average of $6.26 and a 200 day moving average of $8.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The company has a market cap of $1.98 billion, a PE ratio of -9.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the previous year, the business posted $0.22 earnings per share. Analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date was Friday, February 28th. Newell Brands’s dividend payout ratio is currently -53.85%.

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.