Millennium Management LLC Lowers Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Millennium Management LLC lessened its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,072 shares of the company’s stock after selling 27,197 shares during the quarter. Millennium Management LLC owned 0.37% of Spectrum Brands worth $8,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after purchasing an additional 692 shares during the last quarter. Humankind Investments LLC increased its holdings in Spectrum Brands by 7.5% in the 4th quarter. Humankind Investments LLC now owns 5,104 shares of the company’s stock worth $431,000 after buying an additional 355 shares in the last quarter. Graham Capital Management L.P. increased its holdings in Spectrum Brands by 73.7% in the 4th quarter. Graham Capital Management L.P. now owns 20,687 shares of the company’s stock worth $1,748,000 after buying an additional 8,776 shares in the last quarter. Deutsche Bank AG increased its holdings in Spectrum Brands by 165.5% in the 4th quarter. Deutsche Bank AG now owns 94,403 shares of the company’s stock worth $7,976,000 after buying an additional 58,852 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its holdings in Spectrum Brands by 290.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 14,942 shares of the company’s stock worth $1,262,000 after buying an additional 11,115 shares in the last quarter.

Analysts Set New Price Targets

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

Spectrum Brands Price Performance

NYSE SPB opened at $58.05 on Monday. Spectrum Brands Holdings, Inc. has a 52 week low of $56.50 and a 52 week high of $96.62. The firm has a market capitalization of $1.45 billion, a P/E ratio of 14.26, a PEG ratio of 1.70 and a beta of 1.00. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $64.12 and a 200-day moving average price of $77.18.

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

Spectrum Brands Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. Spectrum Brands’s dividend payout ratio (DPR) is presently 89.95%.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the completion of the transaction, the chief executive officer now directly owns 718,427 shares in the company, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by corporate insiders.

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.