Westpac Banking Corp increased its position in shares of Newell Rubbermaid Inc. (NYSE:NWL) by 123.2% during the second quarter, Holdings Channel reports. The fund owned 38,838 shares of the company’s stock after buying an additional 21,441 shares during the period. Westpac Banking Corp’s holdings in Newell Rubbermaid were worth $1,800,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in NWL. Quadrant Capital Group LLC increased 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 worth $116,000 after buying an additional 986 shares during the last quarter. Seven Bridges Advisors LLC bought a new stake in Newell Rubbermaid during the second quarter worth $137,000. Parkside Financial Bank & Trust increased 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 worth $138,000 after buying an additional 330 shares during the last quarter. FineMark National Bank & Trust bought a new stake in Newell Rubbermaid during the second quarter worth $146,000. Finally, NN Investment Partners Holdings N.V. increased 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 worth $151,000 after buying an additional 1,120 shares during the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Newell Rubbermaid Inc. (NYSE:NWL) traded up 0.6454% during midday trading on Thursday, hitting $52.4765. The company’s stock had a trading volume of 468,815 shares. The company has a market cap of $25.30 billion, a PE ratio of 50.8986 and a beta of 1.27. The stock has a 50 day moving average of $52.85 and a 200 day moving average of $48.61. Newell Rubbermaid Inc. has a 52-week low of $33.26 and a 52-week high of $55.45.
Newell Rubbermaid (NYSE:NWL) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The firm earned $3.86 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 147.2% on a year-over-year basis. On average, equities analysts expect that Newell Rubbermaid Inc. will post $2.88 EPS for the current year.
The business 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, August 29th. Newell Rubbermaid’s payout ratio is currently 76.00%.
A number of analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $60.00 target price on shares of Newell Rubbermaid in a research report on Monday, August 1st. Citigroup Inc. reiterated a “buy” rating and set a $61.00 target price on shares of Newell Rubbermaid in a research report on Tuesday, August 2nd. Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 target price on shares of Newell Rubbermaid in a research report on Monday, August 1st. RBC Capital Markets reiterated a “buy” rating on shares of Newell Rubbermaid in a research report on Monday, August 1st. Finally, Deutsche Bank AG upped their target price on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Two investment 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 stock. The stock has a consensus rating of “Buy” and a consensus target price 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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