Friess Associates buys $23.7 Million stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Friess Associates scooped up 430,048 additional shares in Newell Rubbermaid during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 498,218 shares of Newell Rubbermaid which is valued at $23.7 Million.Newell Rubbermaid makes up approximately 2.38% of Friess Associates’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in NWL in the latest quarter, The investment management firm added 14,522 additional shares and now holds a total of 114,624 shares of Newell Rubbermaid which is valued at $5.4 Million. Newell Rubbermaid makes up approx 0.07% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio. Smith Salley Associates sold out all of its stake in NWL during the most recent quarter. The investment firm sold 47,388 shares of NWL which is valued $2.3 Million. Archford Capital Strategies sold out all of its stake in NWL during the most recent quarter. The investment firm sold 124 shares of NWL which is valued $5,889. Hanseatic Management Services Inc sold out all of its stake in NWL during the most recent quarter. The investment firm sold 23,662 shares of NWL which is valued $1.1 Million.Rhumbline Advisers boosted its stake in NWL in the latest quarter, The investment management firm added 9,720 additional shares and now holds a total of 690,837 shares of Newell Rubbermaid which is valued at $32.5 Million. Newell Rubbermaid makes up approx 0.10% of Rhumbline Advisers’s portfolio.

Newell Rubbermaid closed down -0.01 points or -0.02% at $47.88 with 35,49,303 shares getting traded on Wednesday. Post opening the session at $47.85, the shares hit an intraday low of $47.78 and an intraday high of $48.19 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

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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