Spectrum Brands Holdings Inc. $SPB Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP cut its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.3% in the first quarter, Holdings Channel reports. The institutional investor owned 660,384 shares of the company’s stock after selling 59,923 shares during the quarter. Quantinno Capital Management LP’s holdings in Spectrum Brands were worth $48,670,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after acquiring an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands during the second quarter worth about $41,000. Finally, Quarry LP purchased a new stake in shares of Spectrum Brands during the third quarter worth about $51,000.

Analyst Upgrades and Downgrades

SPB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group dropped their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Wall Street Zen lowered Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Insider Activity

In related news, CEO David M. Maura purchased 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Spectrum Brands Price Performance

SPB stock opened at $88.51 on Thursday. The business has a fifty day moving average of $83.85 and a two-hundred day moving average of $78.04. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $91.42.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio (DPR) is presently 35.88%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.