First Merchants Corp Purchases New Stake in Newell Rubbermaid Inc. (NWL)
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 (SEC). The firm purchased 8,404 shares of the company’s stock, valued at approximately $408,000.
Other institutional investors also recently added to or reduced their stakes in the company. Seven Bridges Advisors LLC acquired a new stake in shares of Newell Rubbermaid during the second quarter valued at about $137,000. NN Investment Partners Holdings N.V. increased its stake in shares of 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 in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of 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 in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of 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 in the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new stake in shares of Newell Rubbermaid during the second quarter valued at about $229,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
Newell Rubbermaid Inc. (NYSE:NWL) traded up 1.72% during mid-day trading on Wednesday, reaching $52.50. The company’s stock had a trading volume of 3,431,216 shares. The stock has a market cap of $25.32 billion, a PE ratio of 50.92 and a beta of 1.27. Newell Rubbermaid Inc. has a 52-week low of $33.26 and a 52-week high of $55.45. The company has a 50 day moving average of $53.10 and a 200-day moving average of $48.17.
Newell Rubbermaid (NYSE:NWL) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The company’s quarterly revenue was up 147.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Equities analysts forecast that Newell Rubbermaid Inc. will post $2.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.19 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. Newell Rubbermaid’s dividend payout ratio (DPR) is 76.00%.
A number of research firms have recently weighed in on NWL. Deutsche Bank AG raised their price target on 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 set a $66.00 price target on shares of Newell Rubbermaid in a research note on Wednesday, September 14th. Zacks Investment Research downgraded 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 set 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 set a $60.00 price target on shares of Newell Rubbermaid in a research note on Monday, August 1st. Two research 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 stock. Newell Rubbermaid presently has a consensus rating of “Buy” and an average price target of $57.27.
In other news, Director Ian G. H. Ashken sold 346,781 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $48.51, for a total value of $16,822,346.31. Following the sale, the director now directly owns 992,909 shares in the company, valued at $48,166,015.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.
About Newell Rubbermaid
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.