Retirement Systems of Alabama Boosts Stake in Newell Rubbermaid Inc. (NWL)
Retirement Systems of Alabama boosted its position in Newell Rubbermaid Inc. (NYSE:NWL) by 71.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 232,820 shares of the company’s stock after buying an additional 97,216 shares during the period. Retirement Systems of Alabama owned about 0.09% of Newell Rubbermaid worth $11,308,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Seven Bridges Advisors LLC purchased a new stake in shares of Newell Rubbermaid during the second quarter worth approximately $137,000. NN Investment Partners Holdings N.V. boosted its stake 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. Checchi Capital Advisers LLC boosted its stake in shares of Newell Rubbermaid by 57.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,609 shares of the company’s stock worth $175,000 after buying an additional 1,316 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Newell Rubbermaid during the second quarter worth approximately $229,000. Finally, Gillespie Robinson & Grimm Inc. purchased a new stake in shares of Newell Rubbermaid during the second quarter worth approximately $237,000. 93.12% of the stock is owned by institutional investors.
Newell Rubbermaid Inc. (NYSE:NWL) traded down 1.24% during midday trading on Tuesday, reaching $51.60. The company’s stock had a trading volume of 3,375,118 shares. The company’s 50-day moving average is $52.57 and its 200 day moving average is $48.95. Newell Rubbermaid Inc. has a 52 week low of $33.26 and a 52 week high of $55.45. The firm has a market capitalization of $24.88 billion, a P/E ratio of 50.05 and a beta of 1.18.
Newell Rubbermaid (NYSE:NWL) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.78 earnings per share (EPS) 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 quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 147.2% compared to the same quarter last year. Analysts expect that Newell Rubbermaid Inc. will post $2.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. Newell Rubbermaid’s dividend payout ratio (DPR) is 76.00%.
Several brokerages have recently issued reports on NWL. B. Riley reissued a “buy” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a report on Monday, August 1st. Citigroup Inc. reissued a “buy” rating and issued a $61.00 price objective on shares of Newell Rubbermaid in a report on Tuesday, August 2nd. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a report on Monday, August 1st. RBC Capital Markets reissued a “buy” rating on shares of Newell Rubbermaid in a report on Monday, August 1st. Finally, Deutsche Bank AG boosted their price objective on Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Newell Rubbermaid presently has an average rating of “Buy” and an average 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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