Jim Cramer, founder of TheStreet and co-manager of the Action Alerts Plus portfolio, adds Newell Rubbermaid, now known as Newell Brands (NWL - Get Report) , to his list of favorable stocks in the housewares arena.
Cramer favors Newell to stocks such as Valmont Industries (VMI - Get Report) and classifies Newell in the same vein as Home Depot (HD - Get Report) , Whirlpool (WHR - Get Report) and Masco (MAS - Get Report) , when looking at stocks that investors should own to bet on that sector.
Cramer's comments come just months after Atlanta-based Newell announced it would acquire fellow consumer-products company Jarden for about $17 billion. Following the closing, the new company would have a vast portfolio of products, including plastic food-storage containers, kitchenware, candles and baby products. The company officially closed the December deal on April 15. The newly minted company includes brand names Paper Mate, Sharpie, Elmer's, Calphalon, Rubbermaid, Graco, Coleman, First Alert, FoodSaver, Jostens, Oster, Rawlings, Sunbeam, Yankee Candle, and others.
Newell has not stopped making deals since the December acquisition. The company announced March 17 it would sell its window-coverings businesses, known as Décor, to window-treatment specialist Hunter Douglas (HDG - Get Report) for $270 million. Newell will announce first-quarter earnings on April 29.