Dimensional Fund Advisors LP Lowers Stock Position in Spectrum Brands Holdings Inc. $SPB

Dimensional Fund Advisors LP cut its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 3.0% during the first quarter, Holdings Channel.com reports. The firm owned 930,952 shares of the company’s stock after selling 29,074 shares during the period. Dimensional Fund Advisors LP’s holdings in Spectrum Brands were worth $68,612,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. raised its stake in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Spectrum Brands in the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new position in shares of Spectrum Brands in the 3rd quarter valued at $51,000.

Insider Buying and Selling

In other news, CEO David M. Maura purchased 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Spectrum Brands Trading Down 0.1%

Shares of Spectrum Brands stock opened at $88.66 on Friday. The firm’s 50 day simple moving average is $84.32 and its two-hundred day simple moving average is $78.28. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $91.42. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30.

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

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s payout ratio is currently 35.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.