Rhumbline Advisers Sells 922 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Rhumbline Advisers reduced its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,104 shares of the company’s stock after selling 922 shares during the period. Rhumbline Advisers owned 0.11% of Spectrum Brands worth $2,011,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after purchasing an additional 7,198 shares in the last quarter. Empowered Funds LLC bought a new position in Spectrum Brands in the 4th quarter valued at $387,000. Wealthfront Advisers LLC purchased a new position in shares of Spectrum Brands during the fourth quarter worth about $16,606,000. Raymond James Financial Inc. bought a new stake in Spectrum Brands during the fourth quarter worth about $972,000. Finally, Ieq Capital LLC purchased a new stake in shares of Spectrum Brands in the 4th quarter valued at $562,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPB shares. Monness Crespi & Hardt cut their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Wells Fargo & Company lowered 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. Finally, UBS Group upped their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Activity 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 transaction of $330,328.60. Following the transaction, the chief executive officer now owns 718,427 shares of the company’s stock, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.60% of the stock is owned by corporate insiders.

Spectrum Brands Trading Up 2.2%

Shares of NYSE SPB opened at $52.87 on Tuesday. Spectrum Brands Holdings, Inc. has a 1-year low of $51.50 and a 1-year high of $96.62. The stock has a market capitalization of $1.32 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. 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 business has a fifty day moving average price of $60.40 and a 200 day moving average price of $73.44.

Spectrum Brands (NYSE:SPB) last released its 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). The firm had revenue of $675.70 million during the quarter, compared to analyst estimates 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 was down 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, May 27th. Spectrum Brands’s payout ratio is 89.95%.

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.