Systematic Financial Management LP Decreases Stake in Spectrum Brands Holdings Inc. $SPB

Systematic Financial Management LP cut its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.4% during the first quarter, HoldingsChannel.com reports. The fund owned 361,425 shares of the company’s stock after selling 8,863 shares during the period. Systematic Financial Management LP’s holdings in Spectrum Brands were worth $26,637,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPB. Sei Investments Co. lifted its stake in Spectrum Brands by 127.6% in the 1st quarter. Sei Investments Co. now owns 92,706 shares of the company’s stock worth $6,832,000 after purchasing an additional 51,979 shares in the last quarter. Group One Trading LLC grew its position in shares of Spectrum Brands by 159.2% in the first quarter. Group One Trading LLC now owns 2,318 shares of the company’s stock valued at $171,000 after purchasing an additional 6,234 shares in the last quarter. State of Wyoming increased its holdings in shares of Spectrum Brands by 21.4% in the first quarter. State of Wyoming now owns 4,489 shares of the company’s stock valued at $331,000 after purchasing an additional 792 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Spectrum Brands in the first quarter valued at approximately $740,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Spectrum Brands during the first quarter worth approximately $7,414,000.

Spectrum Brands Price Performance

SPB stock opened at $87.53 on Friday. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $90.60. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The business has a fifty day moving average of $82.74 and a two-hundred day moving average of $77.28.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. As a group, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s dividend payout ratio is presently 35.88%.

Insider Buying and Selling

In related news, CEO David M. Maura bought 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were 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 $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of recent research reports. Wall Street Zen lowered Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Wells Fargo & Company raised their target price on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands 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.