Spectrum Brands Holdings Inc. $SPB Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP reduced its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 361,425 shares of the company’s stock after selling 8,863 shares during the quarter. Systematic Financial Management LP owned approximately 1.56% of Spectrum Brands worth $26,637,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SPB. Manning & Napier Advisors LLC increased its holdings in Spectrum Brands by 9.1% in the 4th quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock worth $17,724,000 after buying an additional 25,000 shares during the period. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Spectrum Brands by 91.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 47,935 shares of the company’s stock valued at $2,832,000 after acquiring an additional 22,935 shares during the period. Gamco Investors INC. ET AL lifted its stake in Spectrum Brands by 8.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock valued at $20,919,000 after acquiring an additional 28,569 shares during the period. LSV Asset Management boosted its holdings in shares of Spectrum Brands by 2.9% in the 4th quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Spectrum Brands in the fourth quarter worth $6,242,000.

Insider Activity at Spectrum Brands

In other news, CEO David M. Maura bought 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by insiders.

Spectrum Brands Stock Performance

SPB opened at $87.53 on Friday. The firm’s fifty day simple moving average is $82.74 and its two-hundred day simple moving average is $77.28. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $90.60. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.79 and a beta of 0.64. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million during 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 company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s payout ratio is 35.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday. Finally, Canaccord Genuity Group reduced 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. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

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.