Suffolk Capital Management Lowers stake in Newell Rubbermaid (NWL)

Newell Rubbermaid (NWL) : Suffolk Capital Management reduced its stake in Newell Rubbermaid by 9.66% during the most recent quarter end. The investment management company now holds a total of 316,925 shares of Newell Rubbermaid which is valued at $17,262,905 after selling 33,907 shares in Newell Rubbermaid , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Newell Rubbermaid makes up approximately 2.07% of Suffolk Capital Management’s portfolio.

Other Hedge Funds, Including , Mufg Americas Holdings Corp reduced its stake in NWL by selling 1 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 507 shares of NWL which is valued at $27,616.Nordea Investment Management Ab boosted its stake in NWL in the latest quarter, The investment management firm added 37,577 additional shares and now holds a total of 257,869 shares of Newell Rubbermaid which is valued at $12,591,743. Newell Rubbermaid makes up approx 0.04% of Nordea Investment Management Ab’s portfolio.Sumitomo Life Insurance Co reduced its stake in NWL by selling 1,196 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 33,968 shares of NWL which is valued at $1,640,994. Newell Rubbermaid makes up approx 0.22% of Sumitomo Life Insurance Co’s portfolio.Lathrop Investment Management Corp boosted its stake in NWL in the latest quarter, The investment management firm added 9,973 additional shares and now holds a total of 233,299 shares of Newell Rubbermaid which is valued at $11,270,675. Newell Rubbermaid makes up approx 3.37% of Lathrop Investment Management Corp’s portfolio.

Newell Rubbermaid (NWL) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $55 and reached the intraday high at $55.45. The bulls started the profit booking and pushed the shares to intraday low of $54.82. The trading session was marked by a volume range of 37,25,895 shares exchanging hands. The 52-week high of the shares is $55.45 and the 52-week low is $33.26. The market cap of the company stands at $26,468 M and there are 48,22,00,000 shares in public circulation.

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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