Advisors Asset Management Inc. Sells 887 Shares of Spectrum Brands Holdings Inc. (SPB)
Advisors Asset Management Inc. decreased its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 23.6% during the second quarter, Holdings Channel reports. The fund owned 2,864 shares of the company’s stock after selling 887 shares during the period. Advisors Asset Management Inc.’s holdings in Spectrum Brands Holdings were worth $342,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Credit Agricole S A boosted its position in 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 during the last quarter. Rothschild Asset Management Inc. purchased a new position in Spectrum Brands Holdings during the second quarter worth approximately $395,000. Royal Bank of Canada boosted its position in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock worth $238,000 after buying an additional 1,589 shares during the last quarter. Newbrook Capital Advisors LP purchased a new position in Spectrum Brands Holdings during the first quarter worth approximately $37,112,000. Finally, Stoneridge Investment Partners LLC purchased a new position in Spectrum Brands Holdings during the second quarter worth approximately $1,141,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.
Spectrum Brands Holdings Inc. (NYSE:SPB) traded up 0.99% during mid-day trading on Friday, reaching $137.69. 385,955 shares of the company’s stock traded hands. The stock has a market capitalization of $8.18 billion, a PE ratio of 27.97 and a beta of 0.77. The firm’s 50-day moving average price is $131.77 and its 200 day moving average price is $119.90. Spectrum Brands Holdings Inc. has a 12 month low of $87.65 and a 12 month high of $138.95.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly 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. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts predict that Spectrum Brands Holdings Inc. will post $0.53 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 16th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a yield of 1.10%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 32.69%.
SPB has been the topic of a number of recent research reports. Jefferies Group reissued a “buy” rating on shares of Spectrum Brands Holdings in a research report on Thursday, August 25th. Zacks Investment Research raised shares of Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday. Piper Jaffray Cos. started coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price target on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $140.00 price target (up from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Finally, Monness Crespi & Hardt upped their price target on shares of Spectrum Brands Holdings from $138.00 to $151.00 and gave the company a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a buy rating, Spectrum Brands Holdings presently has a consensus rating of “Buy” and an average price target of $142.33.
In other news, SVP Stacey L. Neu sold 800 shares of the stock in a transaction that occurred 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 directly owns 3,850 shares of the company’s stock, valued at $492,954. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David M. Maura acquired 2,000 shares of Spectrum Brands Holdings stock in a transaction dated 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. Company insiders own 0.95% of the company’s stock.
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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