Stock Traders Purchase Large Volume of Call Options on Newell Brands (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWL) saw some unusual options trading on Wednesday. Investors purchased 20,354 call options on the company. This is an increase of 747% compared to the average volume of 2,403 call options.

Newell Brands Stock Performance

NWL opened at $5.91 on Thursday. The company has a market cap of $2.47 billion, a PE ratio of -11.37, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The stock has a 50-day moving average of $5.56 and a 200-day moving average of $7.92. Newell Brands has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.54 billion. The business’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 4.74%. Newell Brands’s dividend payout ratio (DPR) is presently -47.46%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial cut their target price on Newell Brands from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Canaccord Genuity Group reduced their price target on Newell Brands from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $9.00 price target on shares of Newell Brands in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Newell Brands presently has an average rating of “Hold” and an average target price of $7.42.

Hedge Funds Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently modified their holdings of NWL. Castlekeep Investment Advisors LLC bought a new position in shares of Newell Brands during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its position in shares of Newell Brands by 212.6% during the 1st quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company’s stock worth $38,000 after buying an additional 4,169 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Newell Brands in the 4th quarter valued at $46,000. NBC Securities Inc. raised its position in Newell Brands by 146,542.9% in the 1st quarter. NBC Securities Inc. now owns 10,265 shares of the company’s stock valued at $63,000 after purchasing an additional 10,258 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in Newell Brands in the 1st quarter valued at $69,000. Institutional investors own 92.50% of the company’s stock.

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.