Spectrum Brands Holdings Inc. (SPB) Stake Reduced by K.J. Harrison & Partners Inc
K.J. Harrison & Partners Inc lowered its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 33.3% during the second quarter, Holdings Channel reports. The firm owned 5,200 shares of the company’s stock after selling 2,600 shares during the period. K.J. Harrison & Partners Inc’s holdings in Spectrum Brands Holdings were worth $620,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Genesee Valley Trust Co. increased its position in 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. Pitcairn Co. increased its position in Spectrum Brands Holdings by 1.3% in the second quarter. Pitcairn Co. now owns 3,075 shares of the company’s stock valued at $367,000 after buying an additional 40 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in Spectrum Brands Holdings during the second quarter valued at about $1,141,000. Bank of Montreal Can bought a new position in Spectrum Brands Holdings during the second quarter valued at about $2,494,000. Finally, SeaBridge Investment Advisors LLC increased its position in Spectrum Brands Holdings by 21.9% in the second quarter. SeaBridge Investment Advisors LLC now owns 4,286 shares of the company’s stock valued at $511,000 after buying an additional 771 shares during the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) traded up 1.94% during midday trading on Thursday, hitting $133.86. 319,295 shares of the stock were exchanged. The firm has a 50-day moving average price of $131.02 and a 200 day moving average price of $118.40. The firm has a market cap of $7.95 billion, a PE ratio of 27.20 and a beta of 0.77. Spectrum Brands Holdings Inc. has a 12-month low of $87.65 and a 12-month high of $135.18.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. Spectrum Brands Holdings’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. Analysts predict that Spectrum Brands Holdings Inc. will post $0.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 16th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a yield of 1.14%. Spectrum Brands Holdings’s dividend payout ratio is currently 32.69%.
Several equities analysts have issued reports on the stock. Piper Jaffray Cos. assumed coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price objective on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Finally, Zacks Investment Research downgraded shares of Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Spectrum Brands Holdings presently has an average rating of “Buy” and an average price target of $136.50.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total value of $102,432.00. Following the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at approximately $492,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Maura acquired 2,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was purchased 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 currently 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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