Picton Mahoney Asset Management Decreases Stake in Spectrum Brands Holdings, Inc. (SPB)
Picton Mahoney Asset Management lessened its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 68.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,575 shares of the company’s stock after selling 115,000 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.09% of Spectrum Brands worth $5,674,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its holdings in shares of Spectrum Brands by 33.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Spectrum Brands during the 2nd quarter valued at $113,000. Toronto Dominion Bank lifted its holdings in Spectrum Brands by 244.3% during the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after purchasing an additional 794 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Spectrum Brands during the 2nd quarter valued at $187,000. Finally, SG Americas Securities LLC lifted its holdings in Spectrum Brands by 50.6% during the 2nd quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after purchasing an additional 533 shares during the last quarter. 48.32% of the stock is owned by institutional investors.
Spectrum Brands Holdings, Inc. (NYSE:SPB) traded up $1.94 during mid-day trading on Wednesday, reaching $114.31. The company’s stock had a trading volume of 352,900 shares, compared to its average volume of 432,609. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06. The company has a market cap of $6,590.00, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.81 and a beta of 0.75. Spectrum Brands Holdings, Inc. has a 1 year low of $98.11 and a 1 year high of $146.09.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.12). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Spectrum Brands had a return on equity of 20.54% and a net margin of 7.16%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. equities research analysts expect that Spectrum Brands Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, November 27th. Spectrum Brands’s payout ratio is 33.47%.
Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed a “buy” rating and set a $167.00 price target on shares of Spectrum Brands in a report on Monday, November 20th. BMO Capital Markets set a $132.00 price target on Spectrum Brands and gave the company a “buy” rating in a report on Friday, November 17th. Zacks Investment Research raised Spectrum Brands from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp set a $130.00 price target on Spectrum Brands and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Bank of America raised their price target on Spectrum Brands from $113.00 to $116.00 and gave the company a “neutral” rating in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $137.25.
About Spectrum Brands
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.
Want to see what other hedge funds are holding SPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Brands Holdings, Inc. (NYSE:SPB).
Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.