Stoneridge Investment Partners LLC acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the second quarter, Holdings Channel reports. The institutional investor acquired 9,564 shares of the company’s stock, valued at approximately $1,141,000.
Several other large investors have also made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Spectrum Brands Holdings by 29.5% in the first quarter. Legal & General Group Plc now owns 1,956 shares of the company’s stock worth $214,000 after buying an additional 446 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Spectrum Brands Holdings during the second quarter worth approximately $233,000. Royal Bank of Canada increased its stake in shares of Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock worth $238,000 after buying an additional 1,589 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Spectrum Brands Holdings during the first quarter worth approximately $339,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Spectrum Brands Holdings during the first quarter worth approximately $342,000. 45.41% of the stock is owned by institutional investors and hedge funds.
Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) traded down 0.59% during midday trading on Friday, hitting $133.07. The stock had a trading volume of 231,815 shares. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 27.04 and a beta of 0.77. The firm has a 50-day moving average price of $131.14 and a 200-day moving average price of $118.65. Spectrum Brands Holdings, Inc. has a 1-year low of $87.65 and a 1-year high of $135.18.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The company earned $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post $0.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.14%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 32.69%.
SPB has been the subject of a number of recent analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $143.00 price objective on shares of Spectrum Brands Holdings in a research report on Wednesday, June 22nd. Zacks Investment Research raised Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Saturday, June 18th. Monness Crespi & Hardt boosted their price target on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG reissued a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $136.50.
In other news, SVP Stacey L. Neu sold 800 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the sale, the senior vice president now owns 3,850 shares in the company, valued at $492,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Maura bought 2,000 shares of Spectrum Brands Holdings stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. Insiders own 0.95% of the company’s stock.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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