Spectrum Brands Holdings Inc. $SPB Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,372 shares of the company’s stock after selling 16,800 shares during the period. First Eagle Investment Management LLC owned approximately 0.75% of Spectrum Brands worth $9,719,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPB. GAMMA Investing LLC increased its position in shares of Spectrum Brands by 120.3% during the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares during the period. New York State Teachers Retirement System acquired a new stake in Spectrum Brands in the 1st quarter valued at approximately $118,000. Finally, Quarry LP acquired a new stake in Spectrum Brands in the 1st quarter valued at approximately $157,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on SPB shares. Weiss Ratings restated a “hold (c-)” rating on shares of Spectrum Brands in a research note on Wednesday, October 8th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Wells Fargo & Company decreased their target price on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group cut their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Spectrum Brands Trading Down 1.2%

NYSE:SPB opened at $54.09 on Friday. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $96.62. The firm has a market cap of $1.31 billion, a PE ratio of 20.18 and a beta of 0.82. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $53.80 and a 200 day moving average price of $56.22.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the business earned $1.13 EPS. Spectrum Brands’s revenue for the quarter was down 10.2% on a year-over-year basis. Sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.