Korea Investment Corp Lowers stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Korea Investment Corp reduced its stake in Newell Rubbermaid by 0.01% during the most recent quarter end. The investment management company now holds a total of 1,202,982 shares of Newell Rubbermaid which is valued at $57.1 Million after selling 96 shares in Newell Rubbermaid , the firm said in a disclosure report filed with the SEC on May 12, 2016.Newell Rubbermaid makes up approximately 0.42% of Korea Investment Corp’s portfolio.

Other Hedge Funds, Including , Primecap Management Coca boosted its stake in NWL in the latest quarter, The investment management firm added 90,000 additional shares and now holds a total of 778,060 shares of Newell Rubbermaid which is valued at $37 Million. Newell Rubbermaid makes up approx 0.04% of Primecap Management Coca’s portfolio. Rehmann Capital Advisory Group added NWL to its portfolio by purchasing 11,499 company shares during the most recent quarter which is valued at $546,088. Newell Rubbermaid makes up approx 0.11% of Rehmann Capital Advisory Group’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in NWL by selling 24,750 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 564,005 shares of NWL which is valued at $26.5 Million. Newell Rubbermaid makes up approx 0.10% of State Board Of Administration Of Florida Retirement System’s portfolio. Deltec Asset Management added NWL to its portfolio by purchasing 70,000 company shares during the most recent quarter which is valued at $3.2 Million. Newell Rubbermaid makes up approx 0.79% of Deltec Asset Management’s portfolio.

Newell Rubbermaid closed down -0.03 points or -0.06% at $47.14 with 33,10,848 shares getting traded on Friday. Post opening the session at $47.5, the shares hit an intraday low of $47.02 and an intraday high of $47.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Newell Rubbermaid reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.38. The company had revenue of $1314.90 million for the quarter, compared to analysts expectations of $1295.34 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Investors should note that on May 12, 2016, Newell Rubbermaid announced a cash dividend of $0.1900. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Newell Rubbermaid. Company shares were Reiterated by Deutsche Bank on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .Company shares were Reiterated by B. Riley & Co. on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .Company shares were Reiterated by UBS on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $54 .

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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