Newell Brands Target of Unusually Large Options Trading (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWL) was the target of some unusual options trading on Friday. Traders purchased 7,603 put options on the stock. This is an increase of 258% compared to the typical volume of 2,126 put options.

Insider Activity

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, the insider now directly owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new stake in shares of Newell Brands during the second quarter valued at $26,000. Gradient Investments LLC purchased a new position in shares of Newell Brands in the second quarter worth about $46,000. Quarry LP lifted its holdings in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares during the period. Innealta Capital LLC purchased a new stake in Newell Brands in the second quarter valued at approximately $58,000. Finally, Venturi Wealth Management LLC acquired a new position in Newell Brands in the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NWL. Canaccord Genuity Group increased their price objective on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $17.00 in a research report on Monday. Wells Fargo & Company raised their price target on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.00.

Newell Brands Stock Down 3.9 %

Shares of NWL traded down $0.45 during midday trading on Friday, hitting $11.00. 1,937,867 shares of the company’s stock traded hands, compared to its average volume of 5,536,906. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -17.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.78. The firm’s fifty day moving average is $8.89 and its 200-day moving average is $7.75.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Newell Brands will post 0.66 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

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.