Horizon Kinetics Lowers stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Horizon Kinetics reduced its stake in Newell Rubbermaid by 19.95% during the most recent quarter end. The investment management company now holds a total of 2,121,305 shares of Newell Rubbermaid which is valued at $116,438,431 after selling 528,791 shares in Newell Rubbermaid , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Newell Rubbermaid makes up approximately 2.76% of Horizon Kinetics’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd boosted its stake in NWL in the latest quarter, The investment management firm added 39,256 additional shares and now holds a total of 98,318 shares of Newell Rubbermaid which is valued at $5,396,675. Newell Rubbermaid makes up approx 0.44% of Bluecrest Capital Management Ltd’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reduced its stake in NWL by selling 15,115 shares or 29.25% in the most recent quarter. The Hedge Fund company now holds 36,565 shares of NWL which is valued at $2,007,053. Newell Rubbermaid makes up approx 0.04% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Spot Trading L.l.c sold out all of its stake in NWL during the most recent quarter. The investment firm sold 29,977 shares of NWL which is valued $1,604,069.Aberdeen Asset Management Plcuk boosted its stake in NWL in the latest quarter, The investment management firm added 33,738 additional shares and now holds a total of 82,320 shares of Newell Rubbermaid which is valued at $4,404,943. Newell Rubbermaid makes up approx 0.02% of Aberdeen Asset Management Plcuk’s portfolio. Quantitative Systematic Strategies sold out all of its stake in NWL during the most recent quarter. The investment firm sold 14,266 shares of NWL which is valued $748,394.

Newell Rubbermaid opened for trading at $52.84 and hit $53.25 on the upside on Thursday, eventually ending the session at $53.22, with a gain of 0.26% or 0.14 points. The heightened volatility saw the trading volume jump to 23,51,823 shares. Company has a market cap of $25,663 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *