Arrow Investment Advisors LLC cut its position in shares of Newell Rubbermaid Inc. (NYSE:NWL) by 16.0% during the second quarter, Holdings Channel reports. The firm owned 30,827 shares of the company’s stock after selling 5,859 shares during the period. Newell Rubbermaid comprises approximately 0.3% of Arrow Investment Advisors LLC’s investment portfolio, making the stock its 21st largest position. Arrow Investment Advisors LLC’s holdings in Newell Rubbermaid were worth $1,497,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Calamos Advisors LLC acquired a new position in Newell Rubbermaid during the second quarter worth approximately $51,878,000. CIBC World Markets Inc. increased its position in Newell Rubbermaid by 5.5% in the first quarter. CIBC World Markets Inc. now owns 33,055 shares of the company’s stock worth $1,464,000 after buying an additional 1,716 shares during the last quarter. RS Investment Management Co. LLC acquired a new position in Newell Rubbermaid during the second quarter worth approximately $18,424,000. Geode Capital Management LLC increased its position 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 worth $94,988,000 after buying an additional 47,310 shares during the last quarter. Finally, Wellington Management Group LLP increased its position 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 worth $247,395,000 after buying an additional 1,100,593 shares during the last quarter. 93.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Newell Rubbermaid Inc. (NYSE:NWL) traded down 0.78% during midday trading on Monday, hitting $52.25. 2,932,445 shares of the stock traded hands. The firm’s 50-day moving average is $52.74 and its 200 day moving average is $48.71. Newell Rubbermaid Inc. has a 52 week low of $33.26 and a 52 week high of $55.45. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 50.68 and a beta of 1.18.
Newell Rubbermaid (NYSE:NWL) last announced its earnings results on Friday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 3.91% and a return on equity of 18.55%. Newell Rubbermaid’s quarterly revenue was up 147.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts forecast that Newell Rubbermaid Inc. will post $2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.19 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. Newell Rubbermaid’s payout ratio is presently 76.00%.
NWL has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Jefferies Group reaffirmed a “buy” rating and set a $59.00 price objective on shares of Newell Rubbermaid in a report on Wednesday, June 29th. B. Riley reaffirmed a “buy” rating and set a $60.00 price objective on shares of Newell Rubbermaid in a report on Monday, August 1st. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $60.00 price objective on shares of Newell Rubbermaid in a report on Monday, August 1st. Finally, Deutsche Bank AG raised their price objective on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Newell Rubbermaid has a consensus rating of “Buy” and an average price target of $57.27.
About Newell Rubbermaid
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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