Newell Rubbermaid Inc. (NYSE:NWL) was the target of a large decline in short interest in 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. Approximately 3.2% of the company’s shares are short sold. Based on an average daily volume of 4,437,479 shares, the short-interest ratio is presently 3.4 days.
Shares of Newell Rubbermaid (NYSE:NWL) opened at 51.91 on Friday. The company has a market capitalization of $25.03 billion, a P/E ratio of 50.35 and a beta of 1.18. Newell Rubbermaid has a one year low of $33.26 and a one year high of $55.45. The stock has a 50 day moving average price of $52.41 and a 200-day moving average price of $49.06.
Newell Rubbermaid (NYSE:NWL) last issued its earnings results on Friday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the 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 company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue was up 147.2% compared to the same quarter last year. Equities research analysts predict that Newell Rubbermaid will post $2.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, August 29th. Newell Rubbermaid’s payout ratio is currently 76.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of NWL. Quadrant Capital Group LLC raised its position in shares of 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 during the last quarter. Seven Bridges Advisors LLC bought a new position in shares of Newell Rubbermaid during the second quarter worth approximately $137,000. Parkside Financial Bank & Trust raised its position in shares of 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 in the last quarter. FineMark National Bank & Trust bought a new position in shares of Newell Rubbermaid during the second quarter worth approximately $146,000. Finally, NN Investment Partners Holdings N.V. raised its position in shares of 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 in the last quarter. 93.12% of the stock is currently owned by institutional investors.
NWL has been the topic of several research analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Newell Rubbermaid in a research note on Tuesday, August 2nd. RBC Capital Markets reaffirmed a “buy” rating on shares of Newell Rubbermaid in a research note on Monday, August 1st. Deutsche Bank AG lifted their price objective on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research raised Newell Rubbermaid from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Monday, August 1st. Finally, B. Riley reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a research note on Monday, August 1st. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $57.50.
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.
Receive News & Ratings for Newell Rubbermaid Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Rubbermaid Inc. and related companies with MarketBeat.com's FREE daily email newsletter.