Spectrum Brands Holdings Inc. (SPB) Stake Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. increased its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,286 shares of the company’s stock after buying an additional 531 shares during the period. Victory Capital Management Inc.’s holdings in Spectrum Brands Holdings were worth $1,227,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SPB. A.R.T. Advisors LLC bought a new stake in shares of Spectrum Brands Holdings during the first quarter valued at approximately $212,000. Legal & General Group Plc raised its stake in shares of Spectrum Brands Holdings by 29.5% in the first quarter. Legal & General Group Plc now owns 1,956 shares of the company’s stock valued at $214,000 after buying an additional 446 shares during the last quarter. Fulton Bank N.A. bought a new stake in shares of Spectrum Brands Holdings during the second quarter valued at approximately $233,000. Royal Bank of Canada raised its stake in shares of Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares during the last quarter. Finally, Genesee Valley Trust Co. raised its stake in shares of Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock valued at $246,000 after buying an additional 176 shares during the last quarter. 45.41% of the stock is owned by institutional investors.
Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) traded up 0.42% on Wednesday, hitting $130.44. 135,299 shares of the stock traded hands. The firm’s 50 day moving average is $130.79 and its 200-day moving average is $118.20. Spectrum Brands Holdings Inc. has a 12 month low of $87.65 and a 12 month high of $135.18. The company has a market cap of $7.75 billion, a PE ratio of 26.50 and a beta of 0.77.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts predict that Spectrum Brands Holdings Inc. will post $0.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 16th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is currently 32.69%.
Several equities research analysts recently commented on SPB shares. Jefferies Group reissued a “buy” rating and issued a $143.00 price target on shares of Spectrum Brands Holdings in a report on Wednesday, June 22nd. Zacks Investment Research raised shares of Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Saturday, June 18th. Monness Crespi & Hardt upped their target price on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $140.00 target price (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Finally, Piper Jaffray Cos. began coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They set an “overweight” rating and a $147.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $136.50.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the sale, the senior vice president now owns 3,850 shares of the company’s stock, valued at $492,954. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David M. Maura bought 2,000 shares of Spectrum Brands Holdings stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by company insiders.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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