Seven Bridges Advisors LLC Acquires Shares of 2,811 Newell Rubbermaid Inc. (NWL)
Seven Bridges Advisors LLC purchased a new stake in Newell Rubbermaid Inc. (NYSE:NWL) during the second quarter, Holdings Channel reports. The institutional investor purchased 2,811 shares of the company’s stock, valued at approximately $137,000.
Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased 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 valued at $247,395,000 after buying an additional 1,100,593 shares during the last quarter. Institutional Capital LLC bought a new stake in Newell Rubbermaid during the first quarter valued at $188,471,000. First Manhattan Co. increased 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 valued at $135,835,000 after buying an additional 2,690,434 shares during the last quarter. Bessemer Group Inc. increased its stake in Newell Rubbermaid by 5.4% in the first quarter. Bessemer Group Inc. now owns 2,737,675 shares of the company’s stock valued at $121,252,000 after buying an additional 140,360 shares during the last quarter. Finally, Norges Bank bought a new stake in Newell Rubbermaid during the fourth quarter valued at $102,230,000. Institutional investors own 93.12% of the company’s stock.
Shares of Newell Rubbermaid Inc. (NYSE:NWL) traded down 0.27% during trading on Thursday, reaching $52.36. The company had a trading volume of 4,083,990 shares. The company’s 50 day moving average is $53.06 and its 200-day moving average is $48.20. Newell Rubbermaid Inc. has a 1-year low of $33.26 and a 1-year high of $55.45. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 50.79 and a beta of 1.27.
Newell Rubbermaid (NYSE:NWL) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company earned $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Newell Rubbermaid had a net margin of 3.91% and a return on equity of 18.55%. Newell Rubbermaid’s revenue for the quarter was up 147.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts anticipate that Newell Rubbermaid Inc. will post $2.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s payout ratio is presently 76.00%.
Several brokerages have commented on NWL. Deutsche Bank AG increased their target price on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Jefferies Group reiterated 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 downgraded Newell Rubbermaid from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Citigroup Inc. reiterated 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 reiterated 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 assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target 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.
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