Summary
The worst is over -- restructuring is finally showing progress towards normal operations once again.
Fears surrounding slowing sales and heavy leverage are overblown.
The 5% dividend is not at risk of being cut.
A conservative P/E analysis shows 52% upside.
Source: Company Website
Overview
"The reports of my death have been greatly exaggerated." --Mark Twain
If this quote doesn't describe Newell, I don't know what does. As fellow contributors have similarly laid out, Newell Brands (NWL) manufactures and distributes a number of household products such as Sharpie, Yankee Candle and Rubbermaid among many others. They own an eclectic, yet well-known portfolio of brand names which has been recently slimmed down due to restructuring. Continuing operations now function under three distinct segments: Food & Appliance, Home & Outdoor, and Learning & Development. Prior to their ongoing restructuring process, these groups were known as Live, Learn, Work, and Play. The following chart offers a high-level view of the leaner Newell.
