Gluskin Sheff & Assoc Inc. increased its position in Newell Rubbermaid Inc. (NYSE:NWL) by 323.6% during the second quarter, Holdings Channel reports. The institutional investor owned 116,735 shares of the company’s stock after buying an additional 89,178 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in Newell Rubbermaid were worth $5,670,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of NWL. American Century Companies Inc. boosted its stake in Newell Rubbermaid by 169.9% in the second quarter. American Century Companies Inc. now owns 5,729,092 shares of the company’s stock worth $278,262,000 after buying an additional 3,606,287 shares in the last quarter. First Manhattan Co. boosted its stake in 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 in the last quarter. Brookside Capital Management LLC bought a new stake in Newell Rubbermaid during the first quarter worth approximately $70,988,000. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Finally, Calamos Advisors LLC bought a new stake in Newell Rubbermaid during the second quarter worth approximately $51,878,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Shares of Newell Rubbermaid Inc. (NYSE:NWL) traded up 2.05% during trading on Wednesday, hitting $52.66. The company’s stock had a trading volume of 3,059,703 shares. The firm’s 50 day moving average is $52.57 and its 200-day moving average is $48.95. The company has a market capitalization of $25.39 billion, a P/E ratio of 51.08 and a beta of 1.18. Newell Rubbermaid Inc. has a 1-year low of $33.26 and a 1-year high of $55.45.
Newell Rubbermaid (NYSE:NWL) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm earned $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The business’s revenue for the quarter was up 147.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Analysts forecast that Newell Rubbermaid Inc. will post $2.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s dividend payout ratio is currently 76.00%.
NWL has been the subject of a number of recent research reports. Zacks Investment Research upgraded Newell Rubbermaid from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Monday. Jefferies Group restated a “top pick” rating and issued a $66.00 price target on shares of Newell Rubbermaid in a report on Wednesday, September 14th. Finally, Deutsche Bank AG lifted their price target on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.50.
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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