Smithfield Trust Co. Has $104,000 Stake in Spectrum Brands Holdings, Inc. (SPB)
Smithfield Trust Co. continued to hold its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the second quarter, Holdings Channel reports. The firm owned 832 shares of the company’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Spectrum Brands Holdings were worth $104,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. boosted its position in Spectrum Brands Holdings by 65.7% in the second quarter. Sei Investments Co. now owns 7,147 shares of the company’s stock worth $894,000 after buying an additional 2,834 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in Spectrum Brands Holdings by 41.2% in the second quarter. K.J. Harrison & Partners Inc now owns 14,120 shares of the company’s stock worth $1,766,000 after buying an additional 4,120 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Spectrum Brands Holdings by 33.3% in the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Bessemer Group Inc. boosted its position in Spectrum Brands Holdings by 18.2% in the second quarter. Bessemer Group Inc. now owns 1,048,499 shares of the company’s stock worth $131,105,000 after buying an additional 161,567 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Spectrum Brands Holdings during the second quarter worth about $438,000. 48.15% of the stock is owned by institutional investors and hedge funds.
Spectrum Brands Holdings, Inc. (NYSE:SPB) opened at 110.81 on Thursday. Spectrum Brands Holdings, Inc. has a one year low of $108.30 and a one year high of $146.09. The company’s 50 day moving average is $121.27 and its 200 day moving average is $131.89. The stock has a market cap of $6.43 billion, a PE ratio of 22.69 and a beta of 0.66.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.92 by $0.21. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.38 billion. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post $5.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio is currently 34.29%.
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SPB has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating and set a $131.00 target price (down previously from $149.00) on shares of Spectrum Brands Holdings in a report on Monday, July 31st. Jefferies Group LLC set a $143.00 target price on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 target price on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a report on Saturday, July 29th. Finally, BMO Capital Markets reduced their target price on shares of Spectrum Brands Holdings from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Spectrum Brands Holdings currently has a consensus rating of “Buy” and an average price target of $143.88.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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