New York State Teachers Retirement System Invests $118,000 in Spectrum Brands Holdings Inc. (NYSE:SPB)

New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,652 shares of the company’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Man Group plc increased its position in shares of Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company’s stock worth $27,052,000 after purchasing an additional 197,263 shares in the last quarter. Two Sigma Advisers LP grew its stake in Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock worth $19,754,000 after buying an additional 187,400 shares during the last quarter. Trexquant Investment LP increased its position in Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock valued at $12,563,000 after buying an additional 143,068 shares in the last quarter. Callodine Capital Management LP raised its stake in 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 buying an additional 121,000 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Spectrum Brands by 261.9% in the fourth quarter. First Trust Advisors LP now owns 163,143 shares of the company’s stock worth $13,784,000 after acquiring an additional 118,060 shares in the last quarter.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $57.61 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 27.56 and a beta of 0.90. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $57.73 and a 200 day moving average price of $69.04.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). Spectrum Brands had a net margin of 2.02% and a return on equity of 5.20%. The business had revenue of $675.70 million during the quarter, compared to analysts’ expectations of $701.00 million. During the same quarter last year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.26%. The ex-dividend date was Tuesday, May 27th. Spectrum Brands’s payout ratio is 89.95%.

Analysts Set New Price Targets

SPB has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Monness Crespi & Hardt cut their target price on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Wells Fargo & Company dropped their price target on Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Insider Activity

In related news, CEO David M. Maura sold 5,180 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the transaction, the chief executive officer directly owned 718,427 shares of the company’s stock, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.

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.