Pullen Investment Management LLC Lowers Position in Spectrum Brands Holdings Inc. $SPB

Pullen Investment Management LLC cut its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 44.8% during the 1st quarter, HoldingsChannel reports. The firm owned 22,610 shares of the company’s stock after selling 18,358 shares during the period. Pullen Investment Management LLC’s holdings in Spectrum Brands were worth $1,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPB. Corient Private Wealth LLC lifted its position in Spectrum Brands by 449.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,670 shares of the company’s stock valued at $1,280,000 after buying an additional 17,728 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Spectrum Brands in the 4th quarter worth about $6,242,000. Kera Capital Partners Inc. purchased a new stake in shares of Spectrum Brands in the 4th quarter worth about $300,000. Invesco Ltd. grew its position in shares of Spectrum Brands by 34.9% in the 4th quarter. Invesco Ltd. now owns 76,529 shares of the company’s stock worth $4,521,000 after buying an additional 19,819 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Spectrum Brands by 53.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,434 shares of the company’s stock worth $971,000 after acquiring an additional 5,724 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPB shares. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Spectrum Brands Trading Down 0.3%

NYSE SPB opened at $83.75 on Friday. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $86.96. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average price is $80.75 and its 200-day moving average price is $72.75. The stock has a market cap of $1.94 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.64 and a beta of 0.65.

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

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 35.88%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura bought 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.

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.