Oppenheimer & Co. Inc. lowered its position in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 52.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,654 shares of the company’s stock after selling 8,492 shares during the period. Oppenheimer & Co. Inc.’s holdings in Spectrum Brands were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI purchased a new position in Spectrum Brands in the first quarter worth approximately $99,000. Teza Capital Management LLC purchased a new stake in Spectrum Brands in the second quarter valued at $263,000. Keybank National Association OH acquired a new position in shares of Spectrum Brands in the 2nd quarter valued at $283,000. Pinnacle Associates Ltd. lifted its stake in shares of Spectrum Brands by 3.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 5,310 shares of the company’s stock valued at $291,000 after purchasing an additional 170 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Spectrum Brands by 9.1% during the 2nd quarter. Gabelli Funds LLC now owns 6,000 shares of the company’s stock worth $323,000 after purchasing an additional 500 shares during the period.
SPB has been the subject of a number of recent analyst reports. Deutsche Bank cut their price objective on Spectrum Brands from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $68.00 target price on shares of Spectrum Brands in a research report on Sunday, August 11th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $53.00 target price on shares of Spectrum Brands in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.39.
NYSE:SPB traded up $1.25 during trading hours on Wednesday, reaching $59.83. 5,043 shares of the stock were exchanged, compared to its average volume of 265,783. Spectrum Brands Holdings Inc has a twelve month low of $40.54 and a twelve month high of $84.07. The business has a 50-day moving average of $51.95 and a two-hundred day moving average of $55.94. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 3.58 and a beta of 1.74. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 1.21.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.13. Spectrum Brands had a return on equity of 6.36% and a net margin of 13.21%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, research analysts forecast that Spectrum Brands Holdings Inc will post 2.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Wednesday, August 21st. Spectrum Brands’s dividend payout ratio (DPR) is 47.46%.
Spectrum Brands Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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