Headinvest LLC acquired a new position in Newell Rubbermaid Inc. (NYSE:NWL) during the second quarter, Holdings Channel reports. The institutional investor acquired 44,160 shares of the company’s stock, valued at approximately $2,145,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of NWL. Wellington Management Group LLP increased its position in shares of Newell Rubbermaid by 24.5% in the first quarter. Wellington Management Group LLP now owns 5,585,781 shares of the company’s stock worth $247,395,000 after buying an additional 1,100,593 shares during the period. Institutional Capital LLC purchased a new position in shares of Newell Rubbermaid during the first quarter worth $188,471,000. First Manhattan Co. increased its position in shares of Newell Rubbermaid by 2,531.7% in the second quarter. First Manhattan Co. now owns 2,796,704 shares of the company’s stock worth $135,835,000 after buying an additional 2,690,434 shares during the period. Bessemer Group Inc. increased its position in shares of Newell Rubbermaid by 5.4% in the first quarter. Bessemer Group Inc. now owns 2,737,675 shares of the company’s stock worth $121,252,000 after buying an additional 140,360 shares during the period. Finally, Norges Bank purchased a new position in shares of Newell Rubbermaid during the fourth quarter worth $102,230,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
Newell Rubbermaid Inc. (NYSE:NWL) traded down 0.27% during trading on Thursday, reaching $52.36. 4,083,990 shares of the company’s stock traded hands. The firm has a 50 day moving average of $53.06 and a 200 day moving average of $48.20. The firm has a market capitalization of $25.25 billion, a PE ratio of 50.79 and a beta of 1.27. Newell Rubbermaid Inc. has a 1-year low of $33.26 and a 1-year high of $55.45.
Newell Rubbermaid (NYSE:NWL) last released its earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Newell Rubbermaid had a net margin of 3.91% and a return on equity of 18.55%. The company earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business earned $0.64 EPS. The business’s revenue was up 147.2% on a year-over-year basis. Equities analysts forecast that Newell Rubbermaid Inc. will post $2.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s dividend payout ratio (DPR) is presently 76.00%.
A number of research analysts have weighed in on NWL shares. Deutsche Bank AG upped their price objective on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Jefferies Group reissued a “top pick” rating and set a $66.00 target price on shares of Newell Rubbermaid in a research note on Wednesday, September 14th. Zacks Investment Research cut shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $61.00 target price on shares of Newell Rubbermaid in a research note on Tuesday, August 2nd. Finally, B. Riley reissued a “buy” rating and set a $60.00 target price on shares of Newell Rubbermaid in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Newell Rubbermaid has a consensus rating of “Buy” and a consensus target price of $57.27.
Newell Rubbermaid Company Profile
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Rubbermaid Inc. (NYSE:NWL).
Receive News & Ratings for Newell Rubbermaid Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Rubbermaid Inc. and related companies with MarketBeat.com's FREE daily email newsletter.