Public Employees Retirement System of Ohio decreased its stake in Spectrum Brands Holdings Inc (NYSE:SPB) by 17.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,798 shares of the company’s stock after selling 3,166 shares during the period. Public Employees Retirement System of Ohio’s holdings in Spectrum Brands were worth $796,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CNA Financial Corp acquired a new stake in shares of Spectrum Brands in the first quarter valued at about $878,000. Teacher Retirement System of Texas lifted its stake in shares of Spectrum Brands by 69.3% in the second quarter. Teacher Retirement System of Texas now owns 552,843 shares of the company’s stock valued at $29,726,000 after purchasing an additional 226,319 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Spectrum Brands in the second quarter valued at about $591,000. Pzena Investment Management LLC lifted its stake in shares of Spectrum Brands by 59.4% in the second quarter. Pzena Investment Management LLC now owns 971,972 shares of the company’s stock valued at $52,263,000 after purchasing an additional 362,237 shares during the period. Finally, New Jersey Better Educational Savings Trust acquired a new stake in shares of Spectrum Brands in the second quarter valued at about $333,000.
SPB has been the subject of a number of research reports. Royal Bank of Canada restated a “buy” rating and set a $68.00 target price on shares of Spectrum Brands in a research report on Sunday, August 11th. ValuEngine cut shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Co restated a “hold” rating and set a $53.00 target price on shares of Spectrum Brands in a research report on Wednesday, August 7th. Finally, Deutsche Bank cut their target price on shares of Spectrum Brands from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.39.
SPB traded down $1.35 during midday trading on Friday, reaching $49.68. 414,783 shares of the company’s stock were exchanged, compared to its average volume of 315,504. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 0.84. The stock has a market capitalization of $2.42 billion, a PE ratio of 14.03, a P/E/G ratio of 3.22 and a beta of 1.74. The business’s 50-day moving average price is $52.70 and its 200 day moving average price is $56.03. Spectrum Brands Holdings Inc has a 1-year low of $40.54 and a 1-year high of $82.50.
Spectrum Brands (NYSE:SPB) last announced its earnings results on Wednesday, August 7th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.13. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Spectrum Brands had a net margin of 13.21% and a return on equity of 6.36%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. As a group, analysts expect that Spectrum Brands Holdings Inc will post 2.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Wednesday, August 21st. Spectrum Brands’s payout ratio is currently 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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