Semanteon Capital Management LP Sells 12,514 Shares of Spectrum Brands Holdings Inc. $SPB

Semanteon Capital Management LP reduced its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 60.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,066 shares of the company’s stock after selling 12,514 shares during the quarter. Semanteon Capital Management LP’s holdings in Spectrum Brands were worth $427,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its position in Spectrum Brands by 1,433.7% in the 1st quarter. Acadian Asset Management LLC now owns 101,728 shares of the company’s stock worth $7,268,000 after purchasing an additional 95,095 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Spectrum Brands during the 1st quarter worth approximately $386,000. CW Advisors LLC boosted its stake in shares of Spectrum Brands by 48.3% in the 1st quarter. CW Advisors LLC now owns 16,767 shares of the company’s stock worth $1,200,000 after buying an additional 5,458 shares during the last quarter. Redwood Investment Management LLC boosted its stake in shares of Spectrum Brands by 9.9% in the 1st quarter. Redwood Investment Management LLC now owns 70,518 shares of the company’s stock worth $5,046,000 after buying an additional 6,377 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of Spectrum Brands by 185.6% in the first quarter. Ieq Capital LLC now owns 19,003 shares of the company’s stock valued at $1,360,000 after acquiring an additional 12,350 shares in the last quarter.

Spectrum Brands Stock Down 2.3%

Shares of NYSE SPB opened at $57.05 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The company has a market cap of $1.38 billion, a P/E ratio of 14.41 and a beta of 0.82. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $96.62. The business has a 50-day simple moving average of $53.69 and a two-hundred day simple moving average of $55.87.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 13th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. The company had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.27%. Spectrum Brands’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. Research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. Spectrum Brands’s dividend payout ratio (DPR) is presently 70.15%.

Analysts Set New Price Targets

SPB has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research report on Thursday. Wall Street Zen cut shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research note on Monday, November 10th. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group lowered their target price on 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands presently has an average rating of “Moderate Buy” and an average price target of $75.20.

Spectrum Brands Company Profile

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.