Newell Brands Inc (NYSE:NWL) announced a quarterly dividend on Friday, November 9th, RTT News reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.23 per share on Friday, December 14th. This represents a $0.92 annualized dividend and a yield of 4.62%.
Newell Brands has raised its dividend payment by an average of 10.1% per year over the last three years. Newell Brands has a dividend payout ratio of 104.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Newell Brands to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 57.1%.
Shares of Newell Brands stock opened at $19.90 on Friday. Newell Brands has a twelve month low of $15.11 and a twelve month high of $32.58. The company has a quick ratio of 2.44, a current ratio of 2.87 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 3.40 and a beta of 0.82.
In related news, CEO Michael B. Polk purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average cost of $20.63 per share, with a total value of $206,300.00. Following the acquisition, the chief executive officer now owns 941,951 shares of the company’s stock, valued at approximately $19,432,449.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.
Several equities analysts have recently commented on NWL shares. Bank of America boosted their target price on shares of Newell Brands from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Deutsche Bank dropped their target price on shares of Newell Brands to $23.00 and set a “hold” rating for the company in a research report on Tuesday, August 7th. Citigroup dropped their target price on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Jefferies Financial Group dropped their target price on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, August 8th. Finally, BMO Capital Markets dropped their target price on shares of Newell Brands from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, August 8th. Thirteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.60.
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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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