Newell Brands Inc (NWL) Short Interest Update
Newell Brands Inc (NYSE:NWL) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 59,449,211 shares, an increase of 15.3% from the August 15th total of 51,552,803 shares. Based on an average daily trading volume, of 7,167,922 shares, the days-to-cover ratio is currently 8.3 days. Currently, 12.7% of the shares of the stock are sold short.
In other news, CEO Michael B. Polk bought 10,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of $20.63 per share, for a total transaction of $206,300.00. Following the purchase, the chief executive officer now owns 941,951 shares in the company, valued at $19,432,449.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Craigie purchased 11,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the purchase, the director now owns 14,081 shares in the company, valued at $300,347.73. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. increased its holdings in shares of Newell Brands by 20.3% in the 2nd quarter. Wetherby Asset Management Inc. now owns 11,486 shares of the company’s stock worth $296,000 after buying an additional 1,941 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Newell Brands by 2.7% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 77,117 shares of the company’s stock worth $1,965,000 after buying an additional 2,000 shares during the last quarter. Berson & Corrado Investment Advisors LLC increased its holdings in shares of Newell Brands by 16.9% in the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 15,565 shares of the company’s stock worth $401,000 after buying an additional 2,246 shares during the last quarter. LS Investment Advisors LLC grew its holdings in Newell Brands by 9.4% during the 2nd quarter. LS Investment Advisors LLC now owns 27,528 shares of the company’s stock valued at $710,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Bank of The West grew its holdings in Newell Brands by 28.0% during the 2nd quarter. Bank of The West now owns 11,257 shares of the company’s stock valued at $290,000 after purchasing an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.
Newell Brands stock opened at $21.56 on Tuesday. Newell Brands has a twelve month low of $20.21 and a twelve month high of $43.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.74 and a current ratio of 3.17. The stock has a market capitalization of $10.27 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 5.05 and a beta of 0.62.
Newell Brands (NYSE:NWL) last posted its earnings results on Monday, August 6th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm posted $0.87 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. equities analysts forecast that Newell Brands will post 0.89 earnings per share for the current fiscal year.
Newell Brands announced that its board has authorized a share repurchase program on Monday, June 11th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 19.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.27%. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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