Short Interest in Newell Brands Inc (NWL) Grows By 12.9%

Newell Brands Inc (NYSE:NWL) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 35,306,494 shares, a growth of 12.9% from the February 28th total of 31,258,702 shares. Based on an average daily trading volume, of 10,095,447 shares, the days-to-cover ratio is presently 3.5 days. Approximately 7.3% of the shares of the stock are sold short.

A number of institutional investors and hedge funds have recently modified their holdings of NWL. Buckingham Capital Management Inc. boosted its stake in Newell Brands by 7.5% in the third quarter. Buckingham Capital Management Inc. now owns 30,015 shares of the company’s stock worth $1,281,000 after buying an additional 2,085 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Newell Brands by 4.0% in the third quarter. Great West Life Assurance Co. Can now owns 341,645 shares of the company’s stock worth $14,315,000 after buying an additional 13,019 shares in the last quarter. Legal & General Group Plc boosted its stake in Newell Brands by 1.5% in the third quarter. Legal & General Group Plc now owns 2,233,051 shares of the company’s stock worth $95,281,000 after buying an additional 32,160 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Newell Brands by 11.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,858 shares of the company’s stock worth $1,701,000 after buying an additional 3,967 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Newell Brands by 0.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 966,942 shares of the company’s stock worth $41,259,000 after buying an additional 5,891 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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Shares of NYSE NWL opened at $25.48 on Friday. Newell Brands has a 12 month low of $23.85 and a 12 month high of $55.08. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $12,362.90, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.37 and a beta of 0.88.

Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Newell Brands had a return on equity of 10.47% and a net margin of 18.65%. Newell Brands’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. sell-side analysts anticipate that Newell Brands will post 2.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, February 27th. Newell Brands’s dividend payout ratio is currently 33.45%.

A number of research firms have weighed in on NWL. Deutsche Bank began coverage on Newell Brands in a report on Wednesday, December 13th. They set a “hold” rating and a $32.00 target price for the company. FIX reaffirmed a “hold” rating and set a $23.00 target price on shares of Newell Brands in a report on Thursday, February 8th. Vetr raised Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, February 20th. JPMorgan Chase reaffirmed a “hold” rating and set a $26.00 target price (up previously from $25.00) on shares of Newell Brands in a report on Tuesday, February 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $35.00 target price on shares of Newell Brands in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.72.

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Newell Brands Company Profile

Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.

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