Utah Retirement Systems Acquires 3,500 Shares of Spectrum Brands Holdings Inc (SPB)

Utah Retirement Systems lifted its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 87.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the company’s stock after acquiring an additional 3,500 shares during the period. Utah Retirement Systems’ holdings in Spectrum Brands were worth $560,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SPB. First Republic Investment Management Inc. bought a new stake in Spectrum Brands in the 3rd quarter worth about $281,000. Renaissance Technologies LLC bought a new stake in Spectrum Brands in the 3rd quarter worth about $9,654,000. Channing Capital Management LLC bought a new stake in Spectrum Brands in the 3rd quarter worth about $12,898,000. Loomis Sayles & Co. L P grew its position in Spectrum Brands by 155.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 272,912 shares of the company’s stock worth $20,392,000 after purchasing an additional 166,160 shares in the last quarter. Finally, Texas Yale Capital Corp. grew its position in Spectrum Brands by 10.7% in the 3rd quarter. Texas Yale Capital Corp. now owns 15,469 shares of the company’s stock worth $1,156,000 after purchasing an additional 1,500 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

SPB opened at $47.36 on Friday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.11 and a current ratio of 2.49. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.62 and a beta of 1.57. Spectrum Brands Holdings Inc has a twelve month low of $45.88 and a twelve month high of $119.94.

Spectrum Brands (NYSE:SPB) last released its earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.29). The company had revenue of $787.80 million during the quarter, compared to analysts’ expectations of $803.72 million. Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.43%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share. As a group, research analysts anticipate that Spectrum Brands Holdings Inc will post 3.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, November 26th. Spectrum Brands’s payout ratio is 47.46%.

A number of brokerages have issued reports on SPB. Oppenheimer downgraded shares of Spectrum Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 19th. Wells Fargo & Co reduced their price objective on shares of Spectrum Brands from $85.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, October 17th. TheStreet raised shares of Spectrum Brands from a “c” rating to a “b-” rating in a research report on Monday, August 20th. Deutsche Bank downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, UBS Group downgraded shares of Spectrum Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 19th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $96.58.

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About Spectrum Brands

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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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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