SG Americas Securities LLC Reduces Holdings in Spectrum Brands Holdings Inc. $SPB

SG Americas Securities LLC cut its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB) by 42.9% during the 1st quarter, Holdings Channel reports. The firm owned 10,045 shares of the company’s stock after selling 7,544 shares during the period. SG Americas Securities LLC’s holdings in Spectrum Brands were worth $740,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SPB. Northwestern Mutual Wealth Management Co. lifted its stake in Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after buying an additional 2,196,079 shares in the last quarter. Callodine Capital Management LP raised its holdings in shares of Spectrum Brands by 26.7% in the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after acquiring an additional 360,898 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Spectrum Brands in the second quarter worth $15,409,000. Qube Research & Technologies Ltd lifted its position in shares of Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock valued at $28,606,000 after acquiring an additional 224,481 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Spectrum Brands in the second quarter valued at $7,317,000.

Spectrum Brands Stock Performance

Shares of NYSE:SPB opened at $83.55 on Tuesday. The business has a 50-day moving average of $81.52 and a two-hundred day moving average of $74.87. The firm has a market capitalization of $1.92 billion, a PE ratio of 15.89, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $88.14.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. The business had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. As a group, research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s payout ratio is 35.88%.

Insider Activity

In other Spectrum Brands news, CEO David M. Maura acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

SPB has been the subject of several analyst reports. Canaccord Genuity Group cut their target price on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.