Verition Fund Management LLC decreased its holdings in Spectrum Brands Holdings Inc (NYSE:SPB) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,652 shares of the company’s stock after selling 2,637 shares during the quarter. Verition Fund Management LLC’s holdings in Spectrum Brands were worth $1,319,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in Spectrum Brands in the 3rd quarter worth about $140,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Spectrum Brands by 90.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,765 shares of the company’s stock valued at $207,000 after purchasing an additional 1,314 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $218,000. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $224,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $240,000. 95.61% of the stock is owned by institutional investors and hedge funds.
NYSE:SPB traded down $0.13 during midday trading on Friday, hitting $50.97. 428,400 shares of the company traded hands, compared to its average volume of 619,513. Spectrum Brands Holdings Inc has a 12-month low of $40.54 and a 12-month high of $119.94. The firm has a market capitalization of $2.72 billion, a PE ratio of 14.40, a PEG ratio of 1.15 and a beta of 1.56. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.11 and a current ratio of 2.49.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.29). Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.43%. The company had revenue of $787.80 million for the quarter, compared to analysts’ expectations of $803.72 million. During the same quarter in the previous year, the company posted $1.35 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts forecast that Spectrum Brands Holdings Inc will post 3.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, November 26th. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%. Spectrum Brands’s payout ratio is 47.46%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, September 25th. TheStreet downgraded Spectrum Brands from a “b-” rating to a “c+” rating in a research note on Friday, September 28th. Bank of America cut their price objective on Spectrum Brands from $91.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, October 4th. Wells Fargo & Co cut their price objective on Spectrum Brands from $85.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, October 17th. Finally, Royal Bank of Canada cut their price objective on Spectrum Brands to $75.00 and set an “outperform” rating for the company in a research note on Monday, November 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Spectrum Brands has an average rating of “Buy” and an average price target of $78.32.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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