Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4,757.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,884 shares of the company’s stock after purchasing an additional 15,557 shares during the quarter. GAMMA Investing LLC owned 0.06% of Spectrum Brands worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Spectrum Brands by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after acquiring an additional 7,198 shares during the period. Empowered Funds LLC purchased a new position in Spectrum Brands during the 4th quarter valued at about $387,000. Wealthfront Advisers LLC purchased a new position in Spectrum Brands during the 4th quarter valued at about $16,606,000. Raymond James Financial Inc. purchased a new position in Spectrum Brands during the 4th quarter valued at about $972,000. Finally, Ieq Capital LLC purchased a new position in Spectrum Brands during the 4th quarter valued at about $562,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPB. Wells Fargo & Company lowered their target price 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. Monness Crespi & Hardt decreased their price objective on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Finally, UBS Group lifted their price objective on Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Spectrum Brands has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura sold 66,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was 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 approximately $47,417,966.71. This trade represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Spectrum Brands Stock Performance

Shares of SPB opened at $51.67 on Monday. The stock has a 50-day simple moving average of $60.40 and a 200-day simple moving average of $73.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The stock has a market capitalization of $1.29 billion, a PE ratio of 12.70, a PEG ratio of 1.70 and a beta of 0.93. Spectrum Brands Holdings, Inc. has a 1 year low of $51.50 and a 1 year high of $96.62.

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

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 89.95%.

Spectrum Brands 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.