Newell Rubbermaid Inc. (NWL) Short Interest Down 11.8% in September
Newell Rubbermaid Inc. (NYSE:NWL) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 14,992,842 shares, a decline of 11.8% from the August 31st total of 17,003,036 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average trading volume of 4,437,479 shares, the days-to-cover ratio is currently 3.4 days.
Shares of Newell Rubbermaid (NYSE:NWL) opened at 52.57 on Thursday. The firm’s 50 day moving average is $52.51 and its 200 day moving average is $48.97. Newell Rubbermaid has a 12 month low of $33.26 and a 12 month high of $55.45. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 50.99 and a beta of 1.18.
Newell Rubbermaid (NYSE:NWL) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business 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 business’s revenue was up 147.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities analysts predict that Newell Rubbermaid will post $2.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s dividend payout ratio is currently 76.00%.
Several large investors have recently bought and sold shares of NWL. Quadrant Capital Group LLC raised its stake in Newell Rubbermaid by 66.6% in the second quarter. Quadrant Capital Group LLC now owns 2,467 shares of the company’s stock valued at $116,000 after buying an additional 986 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in Newell Rubbermaid during the second quarter valued at about $137,000. Parkside Financial Bank & Trust raised its stake in Newell Rubbermaid by 13.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the company’s stock valued at $138,000 after buying an additional 330 shares in the last quarter. FineMark National Bank & Trust purchased a new stake in Newell Rubbermaid during the second quarter valued at about $146,000. Finally, 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 in the last quarter. 93.12% of the stock is currently owned by institutional investors and hedge funds.
NWL has been the topic of a number of recent research reports. Deutsche Bank AG lifted their target price on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 1st. Jefferies Group reaffirmed a “top pick” rating and issued a $66.00 target price on shares of Newell Rubbermaid in a report on Wednesday, September 14th. Zacks Investment Research cut shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $61.00 target price on shares of Newell Rubbermaid in a report on Tuesday, August 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $60.00 target price on shares of Newell Rubbermaid in a report on Monday, August 1st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus 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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