Kings Point Capital Management Lowers stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Kings Point Capital Management reduced its stake in Newell Rubbermaid by 13.51% during the most recent quarter end. The investment management company now holds a total of 357,329 shares of Newell Rubbermaid which is valued at $19,613,789 after selling 55,794 shares in Newell Rubbermaid , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Newell Rubbermaid makes up approximately 4.85% of Kings Point Capital Management’s portfolio.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in NWL in the latest quarter, The investment management firm added 15,314 additional shares and now holds a total of 706,151 shares of Newell Rubbermaid which is valued at $38,760,628. Newell Rubbermaid makes up approx 0.11% of Rhumbline Advisers’s portfolio.Massmutual Trust Co Fsbadv boosted its stake in NWL in the latest quarter, The investment management firm added 26,152 additional shares and now holds a total of 72,452 shares of Newell Rubbermaid which is valued at $3,976,890. Newell Rubbermaid makes up approx 0.48% of Massmutual Trust Co Fsbadv’s portfolio. Candriam Luxembourg S.c.a. added NWL to its portfolio by purchasing 18,099 company shares during the most recent quarter which is valued at $889,747. Newell Rubbermaid makes up approx 0.02% of Candriam Luxembourg S.c.a.’s portfolio.James Investment Research Inc reduced its stake in NWL by selling 30,600 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 1,204,141 shares of NWL which is valued at $58,172,052. Newell Rubbermaid makes up approx 1.44% of James Investment Research Inc’s portfolio.

Newell Rubbermaid opened for trading at $53.67 and hit $54.2 on the upside on Monday, eventually ending the session at $53.91, with a gain of 0.43% or 0.23 points. The heightened volatility saw the trading volume jump to 18,96,495 shares. Company has a market cap of $25,995 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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