Teacher Retirement System of Texas lessened its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) by 76.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,953 shares of the company’s stock after selling 15,803 shares during the quarter. Teacher Retirement System of Texas’ holdings in Spectrum Brands were worth $354,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of SPB. Raymond James Financial Inc. purchased a new position in Spectrum Brands during the fourth quarter worth about $972,000. Swiss National Bank boosted its stake in Spectrum Brands by 0.7% during the fourth quarter. Swiss National Bank now owns 55,099 shares of the company’s stock worth $4,655,000 after buying an additional 400 shares during the period. Magnetar Financial LLC purchased a new position in Spectrum Brands during the fourth quarter worth about $985,000. Semanteon Capital Management LP purchased a new position in Spectrum Brands during the fourth quarter worth about $506,000. Finally, Sei Investments Co. boosted its stake in Spectrum Brands by 2.0% during the fourth quarter. Sei Investments Co. now owns 211,412 shares of the company’s stock worth $17,862,000 after buying an additional 4,050 shares during the period.
Analyst Ratings Changes
Several research analysts have weighed in on SPB shares. Canaccord Genuity Group set a $77.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Wednesday, June 25th. UBS Group raised their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Monness Crespi & Hardt lowered their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus price target of $84.17.
Insiders Place Their Bets
In related news, CEO David M. Maura sold 5,180 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the sale, the chief executive officer owned 718,427 shares of the company’s stock, valued at $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by company insiders.
Spectrum Brands Trading Down 0.2%
NYSE SPB opened at $55.96 on Friday. The firm has a 50 day simple moving average of $56.84 and a 200-day simple moving average of $67.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 26.78 and a beta of 0.90.
Spectrum Brands (NYSE:SPB – Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 2.02% and a return on equity of 5.20%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. Equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.
Spectrum Brands Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.36%. Spectrum Brands’s dividend payout ratio (DPR) is 89.95%.
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.
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