Mirae Asset Global Investments Ltd. Lowers stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Mirae Asset Global Investments Ltd. reduced its stake in Newell Rubbermaid by 16.33% during the most recent quarter end. The investment management company now holds a total of 373,578 shares of Newell Rubbermaid which is valued at $20,505,696 after selling 72,892 shares in Newell Rubbermaid , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Newell Rubbermaid makes up approximately 0.50% of Mirae Asset Global Investments Ltd.’s portfolio.

Other Hedge Funds, Including , Hodges Capital Management sold out all of its stake in NWL during the most recent quarter. The investment firm sold 3,448 shares of NWL which is valued $189,261. Bailard added NWL to its portfolio by purchasing 41,906 company shares during the most recent quarter which is valued at $2,282,620. Newell Rubbermaid makes up approx 0.27% of Bailard’s portfolio.Sg Americas Securities reduced its stake in NWL by selling 792,821 shares or 93.72% in the most recent quarter. The Hedge Fund company now holds 53,119 shares of NWL which is valued at $2,842,398. Newell Rubbermaid makes up approx 0.02% of Sg Americas Securities’s portfolio.Mutual Of America Capital Management reduced its stake in NWL by selling 110,694 shares or 67.61% in the most recent quarter. The Hedge Fund company now holds 53,026 shares of NWL which is valued at $2,837,421. Newell Rubbermaid makes up approx 0.06% of Mutual Of America Capital Management’s portfolio.Proficio Capital Partners boosted its stake in NWL in the latest quarter, The investment management firm added 417 additional shares and now holds a total of 470 shares of Newell Rubbermaid which is valued at $24,656. Newell Rubbermaid makes up approx 0.02% of Proficio Capital Partners’s portfolio.

Newell Rubbermaid opened for trading at $54.33 and hit $54.48 on the upside on Tuesday, eventually ending the session at $54.46, with a gain of 1.13% or 0.61 points. The heightened volatility saw the trading volume jump to 40,26,569 shares. Company has a market cap of $26,261 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.

Investors should note that on Aug 11, 2016, Newell Rubbermaid announced a cash dividend of $0.1900. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

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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