Comerica Bank Sells 13,683 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Comerica Bank lowered its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 93.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 922 shares of the company’s stock after selling 13,683 shares during the quarter. Comerica Bank’s holdings in Spectrum Brands were worth $78,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPB. Steward Partners Investment Advisory LLC bought a new position in Spectrum Brands in the fourth quarter worth $50,000. Blue Trust Inc. increased its position in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock worth $100,000 after purchasing an additional 375 shares during the period. KBC Group NV increased its position in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after purchasing an additional 390 shares during the period. Summit Trail Advisors LLC acquired a new position in shares of Spectrum Brands during the 4th quarter worth about $237,000. Finally, Fox Run Management L.L.C. grew its position in shares of Spectrum Brands by 5.3% during the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company’s stock worth $308,000 after buying an additional 185 shares during the period.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $65.50 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.64 billion, a PE ratio of 16.09, a P/E/G ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 12 month low of $56.50 and a 12 month high of $96.62. The stock has a 50-day moving average price of $65.18 and a two-hundred day moving average price of $78.23.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The company had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter last year, the business earned $1.62 earnings per share. Spectrum Brands’s revenue was down 6.0% compared to the same quarter last year. Analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.87%. Spectrum Brands’s dividend payout ratio is currently 89.95%.

Insider Buying and Selling at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the sale, the chief executive officer now directly owns 718,427 shares in the company, valued at $45,814,089.79. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SPB. UBS Group lifted their price objective on Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company dropped their price target on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Monness Crespi & Hardt decreased their price objective on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Royal Bank of Canada reduced their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.17.

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.