Great Lakes Advisors LLC Sells 16,658 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Great Lakes Advisors LLC trimmed its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,395 shares of the company’s stock after selling 16,658 shares during the period. Great Lakes Advisors LLC owned about 1.06% of Spectrum Brands worth $25,555,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management increased its position in shares of Spectrum Brands by 68.9% in the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after acquiring an additional 304,217 shares during the last quarter. Norges Bank bought a new position in Spectrum Brands in the fourth quarter valued at approximately $20,652,000. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 21.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock worth $117,091,000 after purchasing an additional 234,784 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Spectrum Brands in the 1st quarter valued at approximately $12,814,000. Finally, Gabelli Funds LLC grew its stake in shares of Spectrum Brands by 217.7% in the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock valued at $14,740,000 after buying an additional 113,470 shares in the last quarter.

Spectrum Brands Price Performance

NYSE SPB traded down $2.11 on Friday, hitting $92.08. 261,627 shares of the company’s stock were exchanged, compared to its average volume of 415,608. The stock has a 50-day moving average of $87.17 and a 200-day moving average of $86.36. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 1.88, a P/E/G ratio of 0.33 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The firm had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. Spectrum Brands’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, August 27th. Spectrum Brands’s payout ratio is presently 3.40%.

Analysts Set New Price Targets

A number of brokerages have commented on SPB. Oppenheimer increased their price target on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. UBS Group lifted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group cut their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Royal Bank of Canada restated an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a research note on Friday, June 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.88.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.