Newell Rubbermaid Inc. (NWL) Sees Significant Growth in Short Interest

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Newell Rubbermaid Inc. (NYSE:NWL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 17,003,036 shares, an increase of 19.3% from the August 15th total of 14,253,375 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average trading volume of 3,497,918 shares, the days-to-cover ratio is presently 4.9 days.
Shares of Newell Rubbermaid (NYSE:NWL) opened at 50.99 on Friday. The company’s 50 day moving average is $53.13 and its 200-day moving average is $47.74. Newell Rubbermaid has a 1-year low of $33.26 and a 1-year high of $55.45. The stock has a market capitalization of $24.59 billion, a price-to-earnings ratio of 49.46 and a beta of 1.27.
Newell Rubbermaid (NYSE:NWL) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The firm earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The firm’s quarterly revenue was up 147.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities analysts anticipate that Newell Rubbermaid will post $2.88 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, August 29th. Newell Rubbermaid’s dividend payout ratio is presently 76.00%.
A number of research firms have commented on NWL. Citigroup Inc. reaffirmed a “buy” rating and issued a $61.00 target price on shares of Newell Rubbermaid in a research report on Tuesday, August 2nd. RBC Capital Markets reaffirmed a “buy” rating on shares of Newell Rubbermaid in a research report on Monday, August 1st. Zacks Investment Research cut shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Deutsche Bank AG upped their target price on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $60.00 target price on shares of Newell Rubbermaid in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $57.27.
In other Newell Rubbermaid news, Director Ian G. H. Ashken sold 346,781 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $48.51, for a total value of $16,822,346.31. Following the transaction, the director now owns 992,909 shares of the company’s stock, valued at $48,166,015.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Newell Rubbermaid during the fourth quarter worth about $102,230,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Newell Rubbermaid by 4.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 225,543 shares of the company’s stock worth $9,989,000 after buying an additional 9,758 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Newell Rubbermaid by 187.0% in the first quarter. DnB Asset Management AS now owns 34,224 shares of the company’s stock worth $1,516,000 after buying an additional 22,300 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Newell Rubbermaid by 15.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,188 shares of the company’s stock worth $2,710,000 after buying an additional 8,323 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of Newell Rubbermaid by 8.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 65,057 shares of the company’s stock worth $2,881,000 after buying an additional 5,189 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Newell Rubbermaid Company Profile
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.

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