Spectrum Brands Holdings Inc. $SPB Position Cut by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,338,423 shares of the company’s stock after selling 63,525 shares during the quarter. Pzena Investment Management LLC owned 0.10% of Spectrum Brands worth $172,342,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SPB. Amundi bought a new position in Spectrum Brands in the 1st quarter worth about $176,000. Millennium Management LLC raised its holdings in shares of Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock valued at $11,913,000 after buying an additional 65,424 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Spectrum Brands by 173.0% during the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock valued at $386,000 after buying an additional 3,415 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Spectrum Brands by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after buying an additional 114,143 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Spectrum Brands by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock worth $7,983,000 after buying an additional 6,321 shares in the last quarter.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.90% of the company’s stock.

Spectrum Brands Stock Performance

Shares of NYSE SPB opened at $86.36 on Thursday. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $88.14. The firm has a market cap of $1.99 billion, a P/E ratio of 16.48, a PEG ratio of 2.69 and a beta of 0.64. The stock has a fifty day moving average price of $81.45 and a two-hundred day moving average price of $74.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.2%. Spectrum Brands’s payout ratio is 35.88%.

Wall Street Analysts Forecast Growth

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

Spectrum Brands 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.