Wedge Capital Management L L P NC bought a new stake in Newell Rubbermaid Inc. (NYSE:NWL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 58,489 shares of the company’s stock, valued at approximately $877,000.
Several other large investors have also recently added to or reduced their stakes in NWL. Ngam Advisors L.P. raised its stake in Newell Rubbermaid by 53.7% in the first quarter. Ngam Advisors L.P. now owns 32,071 shares of the company’s stock valued at $1,421,000 after buying an additional 11,210 shares during the period. ING Groep NV bought a new position in Newell Rubbermaid during the first quarter valued at approximately $271,000. Aviva PLC increased its position in Newell Rubbermaid by 3.6% in the first quarter. Aviva PLC now owns 137,247 shares of the company’s stock valued at $6,079,000 after buying an additional 4,800 shares in the last quarter. Credit Agricole S A increased its position in Newell Rubbermaid by 1.2% in the first quarter. Credit Agricole S A now owns 89,623 shares of the company’s stock valued at $3,969,000 after buying an additional 1,096 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Newell Rubbermaid during the first quarter valued at approximately $24,785,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Newell Rubbermaid Inc. (NYSE:NWL) traded down 0.13% during mid-day trading on Wednesday, hitting $52.61. 1,988,828 shares of the stock were exchanged. The company has a 50 day moving average of $51.98 and a 200 day moving average of $49.48. The firm has a market cap of $25.37 billion, a P/E ratio of 51.03 and a beta of 1.18. Newell Rubbermaid Inc. has a 12-month low of $33.26 and a 12-month high of $55.45.
Newell Rubbermaid (NYSE:NWL) last posted its earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, beating the Zacks’ 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 had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Newell Rubbermaid’s revenue for the quarter was up 147.2% compared to the same quarter last year. On average, equities analysts anticipate that Newell Rubbermaid Inc. will post $2.88 earnings per share for the current fiscal year.
Several research analysts recently commented on NWL shares. Deutsche Bank AG raised their price target on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Jefferies Group reaffirmed a “top pick” rating and issued a $66.00 price target on shares of Newell Rubbermaid in a research note on Wednesday, September 14th. Zacks Investment Research downgraded shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $61.00 price target on shares of Newell Rubbermaid in a research note on Tuesday, August 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $60.00 price target on shares of Newell Rubbermaid in a research note on Monday, October 10th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock 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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