Nuveen Asset Management LLC Decreases Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Nuveen Asset Management LLC lessened its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,336 shares of the company’s stock after selling 35,700 shares during the quarter. Nuveen Asset Management LLC owned 0.59% of Spectrum Brands worth $13,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPB. Wealthfront Advisers LLC purchased a new position in Spectrum Brands in the 4th quarter worth $16,606,000. Trexquant Investment LP increased its position in shares of Spectrum Brands by 2,541.2% in the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock valued at $12,563,000 after acquiring an additional 143,068 shares during the period. Callodine Capital Management LP increased its position in shares of Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock valued at $44,568,000 after acquiring an additional 121,000 shares during the period. First Trust Advisors LP increased its position in shares of Spectrum Brands by 261.9% in the fourth quarter. First Trust Advisors LP now owns 163,143 shares of the company’s stock valued at $13,784,000 after acquiring an additional 118,060 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Spectrum Brands by 76.4% in the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company’s stock valued at $22,095,000 after acquiring an additional 113,238 shares during the period.

Insider Buying and Selling

In related news, CEO David M. Maura sold 66,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the sale, the chief executive officer now owns 723,607 shares of the company’s stock, valued at $47,417,966.71. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is currently owned by insiders.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $58.05 on Tuesday. Spectrum Brands Holdings, Inc. has a 1 year low of $56.50 and a 1 year high of $96.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The company’s 50-day moving average is $63.86 and its 200 day moving average is $76.94. The stock has a market capitalization of $1.45 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.70 and a beta of 1.00.

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

Spectrum Brands Dividend Announcement

The firm 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. This represents a $1.88 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands’s payout ratio is currently 89.95%.

Wall Street Analysts Forecast Growth

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

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.