Flinton Capital Management LLC decreased its position in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 41.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,608 shares of the company’s stock after selling 4,704 shares during the period. Flinton Capital Management LLC’s holdings in Spectrum Brands were worth $355,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SPB. CNA Financial Corp purchased a new stake in Spectrum Brands during the 1st quarter worth about $878,000. Teacher Retirement System of Texas increased its holdings in shares of Spectrum Brands by 69.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 552,843 shares of the company’s stock valued at $29,726,000 after acquiring an additional 226,319 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Spectrum Brands in the 2nd quarter valued at about $591,000. Pzena Investment Management LLC increased its holdings in shares of Spectrum Brands by 59.4% in the 2nd quarter. Pzena Investment Management LLC now owns 971,972 shares of the company’s stock valued at $52,263,000 after acquiring an additional 362,237 shares during the last quarter. Finally, Benefit Street Partners LLC purchased a new position in Spectrum Brands during the 2nd quarter worth approximately $2,592,000.
Shares of SPB opened at $52.60 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 0.84. The stock has a market cap of $2.45 billion, a PE ratio of 22.83, a P/E/G ratio of 3.12 and a beta of 1.74. Spectrum Brands Holdings Inc has a 12 month low of $40.54 and a 12 month high of $75.36. The stock’s 50-day moving average is $53.05 and its two-hundred day moving average is $55.87.
Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.13. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Spectrum Brands had a return on equity of 6.36% and a net margin of 13.21%. Spectrum Brands’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. On average, research analysts anticipate that Spectrum Brands Holdings Inc will post 2.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, August 21st. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.46%.
A number of research firms have weighed in on SPB. Deutsche Bank decreased their price objective on Spectrum Brands from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. ValuEngine cut Spectrum Brands from a “hold” rating to a “sell” rating in a report on Thursday, September 19th. Wells Fargo & Co reissued a “hold” rating and set a $53.00 price target on shares of Spectrum Brands in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $68.00 price target on shares of Spectrum Brands in a research report on Sunday, August 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Spectrum Brands presently has an average rating of “Hold” and an average target price of $55.39.
In related news, insider David M. Maura purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $50.43 per share, with a total value of $1,008,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.
Spectrum Brands Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
See Also: Return on Investment (ROI)
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