Great Lakes Advisors LLC Has $4.02 Million Position in Spectrum Brands Holdings Inc. $SPB

Great Lakes Advisors LLC lessened its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 63.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,145 shares of the company’s stock after selling 95,923 shares during the period. Great Lakes Advisors LLC owned 0.22% of Spectrum Brands worth $4,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Caxton Associates LLP acquired a new position in Spectrum Brands in the 1st quarter worth about $1,849,000. Goldman Sachs Group Inc. increased its holdings in Spectrum Brands by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after purchasing an additional 114,143 shares in the last quarter. Parkwood LLC increased its holdings in Spectrum Brands by 9.9% in the 1st quarter. Parkwood LLC now owns 137,524 shares of the company’s stock worth $9,840,000 after purchasing an additional 12,406 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Spectrum Brands by 173.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after purchasing an additional 3,415 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Spectrum Brands by 64.7% in the 1st quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after purchasing an additional 65,424 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPB. Canaccord Genuity Group lowered their target price on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 8th. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Monness Crespi & Hardt decreased their price target on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company decreased their price target on Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.80.

Spectrum Brands Trading Up 0.8%

NYSE SPB opened at $55.96 on Wednesday. The business has a 50 day simple moving average of $56.23 and a 200 day simple moving average of $60.83. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The stock has a market capitalization of $1.35 billion, a P/E ratio of 20.88 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the business earned $1.13 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a yield of 3.4%. Spectrum Brands’s dividend payout ratio (DPR) is currently 70.15%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.