Newell Rubbermaid Inc. (NWL) Reaches New 1-Year High at $54.56
Newell Rubbermaid Inc. (NYSE:NWL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.56 and last traded at $54.26, with a volume of 745,819 shares. The stock had previously closed at $54.15.
A number of research analysts have recently commented on NWL shares. Royal Bank Of Canada restated a “buy” rating on shares of Newell Rubbermaid in a report on Thursday, April 14th. Oppenheimer Holdings Inc. restated a “hold” rating and set a $45.00 price target on shares of Newell Rubbermaid in a report on Tuesday, April 19th. Barclays PLC started coverage on shares of Newell Rubbermaid in a report on Monday, April 25th. They set an “overweight” rating and a $57.00 price target for the company. B. Riley restated a “buy” rating and set a $54.00 price target (up previously from $50.00) on shares of Newell Rubbermaid in a report on Monday, May 2nd. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Newell Rubbermaid in a report on Monday, May 2nd. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $57.27.
The company has a 50-day moving average of $49.95 and a 200 day moving average of $45.00. The firm has a market capitalization of $24.57 billion and a P/E ratio of 53.16.
Newell Rubbermaid (NYSE:NWL) last posted its earnings results on Friday, July 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm earned $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue was up 147.2% compared to the same quarter last year. On average, equities research analysts forecast that Newell Rubbermaid Inc. will post $2.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, August 29th.
In related news, CFO John K. Stipancich sold 21,982 shares of Newell Rubbermaid stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $47.47, for a total transaction of $1,043,485.54. Following the sale, the chief financial officer now owns 71,786 shares of the company’s stock, valued at approximately $3,407,681.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John K. Stipancich sold 11,031 shares of Newell Rubbermaid stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $47.09, for a total value of $519,449.79. Following the sale, the chief financial officer now directly owns 48,773 shares in the company, valued at approximately $2,296,720.57. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in NWL. American International Group Inc. raised its stake in shares of Newell Rubbermaid by 0.5% in the fourth quarter. American International Group Inc. now owns 123,918 shares of the company’s stock worth $5,462,000 after buying an additional 561 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Newell Rubbermaid during the fourth quarter worth about $120,781,000. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Newell Rubbermaid during the fourth quarter worth about $1,215,000. Foresters Investment Management Company Inc. raised its stake in shares of Newell Rubbermaid by 26.1% in the fourth quarter. Foresters Investment Management Company Inc. now owns 1,125,360 shares of the company’s stock worth $49,606,000 after buying an additional 233,100 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Newell Rubbermaid by 6.7% in the fourth quarter. US Bancorp DE now owns 69,426 shares of the company’s stock worth $3,061,000 after buying an additional 4,363 shares in the last quarter.
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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