First Citizens Bank & Trust Co. Acquires Shares of 11,467 Newell Rubbermaid Inc. (NWL)
First Citizens Bank & Trust Co. purchased a new stake in Newell Rubbermaid Inc. (NYSE:NWL) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,467 shares of the company’s stock, valued at approximately $557,000.
Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. increased 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 valued at $278,262,000 after buying an additional 3,606,287 shares during the period. 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 period. 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 period. Geode Capital Management LLC increased its stake in Newell Rubbermaid by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,149,126 shares of the company’s stock valued at $94,988,000 after buying an additional 47,310 shares during the period. Finally, Prudential PLC increased its stake in Newell Rubbermaid by 0.7% in the first quarter. Prudential PLC now owns 1,894,900 shares of the company’s stock valued at $83,925,000 after buying an additional 13,827 shares during the period. Institutional investors own 93.12% of the company’s stock.
Shares of Newell Rubbermaid Inc. (NYSE:NWL) traded up 0.25% during trading on Friday, hitting $52.25. The stock had a trading volume of 2,889,146 shares. Newell Rubbermaid Inc. has a 12-month low of $33.26 and a 12-month high of $55.45. The stock’s 50-day moving average is $52.10 and its 200-day moving average is $49.25. The stock has a market capitalization of $25.19 billion, a P/E ratio of 50.68 and a beta of 1.18.
Newell Rubbermaid (NYSE:NWL) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. Newell Rubbermaid’s revenue for the quarter was up 147.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Analysts predict that Newell Rubbermaid Inc. will post $2.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s payout ratio is currently 76.00%.
NWL has been the subject of several recent analyst reports. Deutsche Bank AG upped 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 reiterated 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. reiterated 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 reissued a “buy” rating and set a $60.00 price objective on shares of Newell Rubbermaid in a research report on Monday. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target 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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