First Merchants Corp purchased a new position in shares of Newell Rubbermaid Inc. (NYSE:NWL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,404 shares of the company’s stock, valued at approximately $408,000.
Several other hedge funds have also recently modified their holdings of the stock. Seven Bridges Advisors LLC bought a new stake in Newell Rubbermaid during the second quarter valued at about $137,000. NN Investment Partners Holdings N.V. raised its stake in Newell Rubbermaid by 56.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 3,101 shares of the company’s stock valued at $151,000 after buying an additional 1,120 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Newell Rubbermaid by 57.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,609 shares of the company’s stock valued at $175,000 after buying an additional 1,316 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Newell Rubbermaid by 49.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,189 shares of the company’s stock valued at $187,000 after buying an additional 1,383 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new stake in Newell Rubbermaid during the second quarter valued at about $229,000. Institutional investors own 93.12% of the company’s stock.
Shares of Newell Rubbermaid Inc. (NYSE:NWL) traded up 1.72% during midday trading on Wednesday, reaching $52.50. The company had a trading volume of 3,431,216 shares. The company has a 50 day moving average price of $53.10 and a 200-day moving average price of $48.17. Newell Rubbermaid Inc. has a one year low of $33.26 and a one year high of $55.45. The firm has a market capitalization of $25.32 billion, a P/E ratio of 50.92 and a beta of 1.27.
Newell Rubbermaid (NYSE:NWL) last posted 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 firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 147.2% compared to the same quarter last year. On average, analysts anticipate that Newell Rubbermaid Inc. will post $2.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Newell Rubbermaid’s dividend payout ratio is currently 76.00%.
NWL has been the topic of several analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $61.00 target price on shares of Newell Rubbermaid in a report on Tuesday, August 2nd. RBC Capital Markets restated a “buy” rating on shares of Newell Rubbermaid in a research note on Monday, August 1st. Deutsche Bank AG upped their price objective on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research upgraded Newell Rubbermaid from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Monday, August 1st. Finally, B. Riley restated a “buy” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a research note on Monday, August 1st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Newell Rubbermaid currently has an average rating of “Buy” and a consensus price target of $57.27.
In other Newell Rubbermaid news, Director Ian G. H. Ashken sold 346,781 shares of Newell Rubbermaid stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $48.51, for a total transaction of $16,822,346.31. Following the transaction, the director now owns 992,909 shares of the company’s stock, valued at approximately $48,166,015.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.
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.
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