Kellner Capital buys $12.5 Million stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Kellner Capital scooped up 201,708 additional shares in Newell Rubbermaid during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 262,307 shares of Newell Rubbermaid which is valued at $12.5 Million.Newell Rubbermaid makes up approximately 8.75% of Kellner Capital’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in NWL in the latest quarter, The investment management firm added 1,080,031 additional shares and now holds a total of 11,757,082 shares of Newell Rubbermaid which is valued at $558.3 Million. Newell Rubbermaid makes up approx 0.29% of Massachusetts Financial Services Co’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. Geduld E E added NWL to its portfolio by purchasing 7,500 company shares during the most recent quarter which is valued at $356,175. Newell Rubbermaid makes up approx 0.54% of Geduld E E’s portfolio.Parkside Financial Bank Trust boosted its stake in NWL in the latest quarter, The investment management firm added 350 additional shares and now holds a total of 2,879 shares of Newell Rubbermaid which is valued at $135,428. Newell Rubbermaid makes up approx 0.07% of Parkside Financial Bank Trust’s portfolio.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 -0.03 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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