Orinda Asset Management adds Newell Rubbermaid (NWL) to its portfolio

Newell Rubbermaid (NWL) : Orinda Asset Management added new position in Newell Rubbermaid during the most recent quarter end. The investment management firm now holds 46,963 shares of Newell Rubbermaid which is valued at $2,512,990 , the company said in a statement filed on Aug 3, 2016 with the SEC.Newell Rubbermaid makes up approximately 2.70% of Orinda Asset Management’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in NWL in the latest quarter, The investment management firm added 92,167 additional shares and now holds a total of 309,883 shares of Newell Rubbermaid which is valued at $16,581,839. Newell Rubbermaid makes up approx 0.05% of Great West Life Assurance Co Can’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in NWL by selling 61,557 shares or 48.91% in the most recent quarter. The Hedge Fund company now holds 64,296 shares of NWL which is valued at $3,440,479. Newell Rubbermaid makes up approx 0.07% of Oregon Public Employees Retirement Fund’s portfolio.Royal London Asset Management Ltd reduced its stake in NWL by selling 8,952 shares or 5.54% in the most recent quarter. The Hedge Fund company now holds 152,628 shares of NWL which is valued at $8,167,124. Newell Rubbermaid makes up approx 0.13% of Royal London Asset Management Ltd’s portfolio. Longfellow Investment Management Co sold out all of its stake in NWL during the most recent quarter. The investment firm sold 163,780 shares of NWL which is valued $8,591,899.

Newell Rubbermaid opened for trading at $54.09 and hit $54.41 on the upside on Monday, eventually ending the session at $54.16, with a gain of 0.76% or 0.41 points. The heightened volatility saw the trading volume jump to 37,80,782 shares. Company has a market cap of $14,526 M.

On the company’s financial health, Newell Rubbermaid reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.72. The company had revenue of $3858.90 million for the quarter, compared to analysts expectations of $3722.77 million. The company’s revenue was up 147.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Newell Rubbermaid. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $52 .

Newell Rubbermaid Inc. is a marketer of consumer and commercial products. The Company operates in five segments: Writing which designs manufactures or sources and distributes writing instruments and labeling solutions primarily for use in business and the home; Home Solutions which designs manufactures or sources and distributes a range of consumer products under various brand names; Tools which designs manufactures or sources and distributes hand tools and power tool accessories industrial bandsaw blades tools and industrial-labeling solutions; Commercial Products which designs manufactures or sources and distributes cleaning and refuse products hygiene systems material handling solutions and medical and computer carts and Baby & Parenting which designs and distributes infant and juvenile products. Its products are marketed under a portfolio of various brands including Sharpie Paper Mate Parker Calphalon Irwin Lenox Elmer’s Graco Aprica and Baby Jogger.

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