Private Advisor Group LLC Boosts Stake in Spectrum Brands Holdings Inc. (SPB)
Private Advisor Group LLC boosted its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 12.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,737 shares of the company’s stock after buying an additional 303 shares during the period. Private Advisor Group LLC’s holdings in Spectrum Brands Holdings were worth $322,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Spectrum Brands Holdings by 58.6% in the second quarter. First Trust Advisors LP now owns 1,073,829 shares of the company’s stock worth $128,119,000 after buying an additional 396,790 shares in the last quarter. Newbrook Capital Advisors LP purchased a new stake in shares of Spectrum Brands Holdings during the first quarter worth approximately $37,112,000. Credit Agricole S A boosted its stake in shares of Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock worth $43,025,000 after buying an additional 332,446 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of Spectrum Brands Holdings during the second quarter worth approximately $27,071,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Spectrum Brands Holdings by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,105,965 shares of the company’s stock worth $120,860,000 after buying an additional 108,842 shares in the last quarter. 45.41% of the stock is owned by institutional investors.
Spectrum Brands Holdings Inc. (NYSE:SPB) traded up 0.94% during trading on Thursday, reaching $132.54. The company had a trading volume of 61,512 shares. Spectrum Brands Holdings Inc. has a 1-year low of $87.65 and a 1-year high of $135.18. The firm has a 50-day moving average of $130.86 and a 200-day moving average of $118.29. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 26.93 and a beta of 0.77.
Spectrum Brands Holdings (NYSE:SPB) last posted its earnings results on Thursday, July 28th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.69 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. Spectrum Brands Holdings’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, analysts anticipate that Spectrum Brands Holdings Inc. will post $0.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 32.69%.
SPB has been the subject of a number of research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Jefferies Group reissued a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Monness Crespi & Hardt boosted their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Saturday, June 18th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $136.50.
In related news, SVP Stacey L. Neu sold 800 shares of the 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Maura bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average cost of $127.47 per share, for a total transaction of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by corporate insiders.
About Spectrum Brands Holdings
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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