Point72 Asset Management buys $179,691,691 stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Point72 Asset Management scooped up 2,613,752 additional shares in Newell Rubbermaid during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,273,669 shares of Newell Rubbermaid which is valued at $179,691,691.Newell Rubbermaid makes up approximately 1.43% of Point72 Asset Management’s portfolio.

Other Hedge Funds, Including , Veritable boosted its stake in NWL in the latest quarter, The investment management firm added 1,357 additional shares and now holds a total of 14,205 shares of Newell Rubbermaid which is valued at $779,712. Newell Rubbermaid makes up approx 0.02% of Veritable’s portfolio. Caxton Associates Lp added NWL to its portfolio by purchasing 85,000 company shares during the most recent quarter which is valued at $4,665,650. Newell Rubbermaid makes up approx 0.19% of Caxton Associates Lp’s portfolio. Alpine Associates Management sold out all of its stake in NWL during the most recent quarter. The investment firm sold 1,869,970 shares of NWL which is valued $102,642,653.Cetera Advisors boosted its stake in NWL in the latest quarter, The investment management firm added 1,982 additional shares and now holds a total of 5,577 shares of Newell Rubbermaid which is valued at $306,122. Newell Rubbermaid makes up approx 0.02% of Cetera Advisors’s portfolio.Savant Capital boosted its stake in NWL in the latest quarter, The investment management firm added 217 additional shares and now holds a total of 4,758 shares of Newell Rubbermaid which is valued at $249,605. Newell Rubbermaid makes up approx 0.07% of Savant Capital’s portfolio.

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.

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