Newell Rubbermaid Inc. (NWL) Short Interest Down 11.8% in September
Newell Rubbermaid Inc. (NYSE:NWL) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 14,992,842 shares, a decrease of 11.8% from the August 31st total of 17,003,036 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily volume of 4,437,479 shares, the days-to-cover ratio is presently 3.4 days.
A number of hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted 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 acquired a new position in shares of Newell Rubbermaid during the second quarter worth approximately $137,000. Parkside Financial Bank & Trust boosted 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 during the last quarter. FineMark National Bank & Trust acquired a new position in shares of Newell Rubbermaid during the second quarter worth approximately $146,000. Finally, NN Investment Partners Holdings N.V. boosted 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 during the last quarter. 93.12% of the stock is currently owned by institutional investors.
NWL has been the topic of a number of recent analyst reports. Bank of America Corp. set a $60.00 price target on shares of Newell Rubbermaid and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Newell Rubbermaid from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Monday. Jefferies Group restated a “buy” rating and set a $66.00 price target on shares of Newell Rubbermaid in a research note on Tuesday. RBC Capital Markets restated a “buy” rating on shares of Newell Rubbermaid in a research note on Monday, August 1st. Finally, Citigroup Inc. restated a “buy” rating and set a $61.00 price target on shares of Newell Rubbermaid in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.50.
Newell Rubbermaid (NYSE:NWL) opened at 52.57 on Thursday. The firm has a market capitalization of $25.35 billion, a PE ratio of 50.99 and a beta of 1.18. The firm’s 50-day moving average is $52.51 and its 200-day moving average is $48.97. Newell Rubbermaid has a 52-week low of $33.26 and a 52-week high of $55.45.
Newell Rubbermaid (NYSE:NWL) last released its quarterly earnings data on Friday, July 29th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Newell Rubbermaid had a net margin of 3.91% and a return on equity of 18.55%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 147.2% on a year-over-year basis. On average, analysts anticipate that Newell Rubbermaid will post $2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. Newell Rubbermaid’s payout ratio is currently 76.00%.
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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