Spectrum Brands Holdings Inc. $SPB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 42.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,045 shares of the company’s stock after selling 7,544 shares during the period. SG Americas Securities LLC’s holdings in Spectrum Brands were worth $740,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Corient Private Wealth LLC raised its stake in shares of Spectrum Brands by 449.7% in the 4th quarter. Corient Private Wealth LLC now owns 21,670 shares of the company’s stock valued at $1,280,000 after acquiring an additional 17,728 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Spectrum Brands during the 4th quarter worth approximately $6,242,000. Kera Capital Partners Inc. purchased a new position in shares of Spectrum Brands during the 4th quarter worth approximately $300,000. Invesco Ltd. increased its holdings in Spectrum Brands by 34.9% in the 4th quarter. Invesco Ltd. now owns 76,529 shares of the company’s stock valued at $4,521,000 after purchasing an additional 19,819 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Spectrum Brands by 53.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,434 shares of the company’s stock valued at $971,000 after purchasing an additional 5,724 shares during the last quarter.

Wall Street Analyst Weigh In

SPB has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Spectrum Brands Stock Down 1.7%

SPB stock opened at $83.55 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $88.14. The company has a fifty day moving average price of $81.52 and a 200 day moving average price of $74.87. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. The business had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Sell-side analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. Spectrum Brands’s payout ratio is 35.88%.

Insider Buying and Selling

In related news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. This represents a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.50% of the company’s stock.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.