Jupiter Asset Management Ltd. Lowers Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Jupiter Asset Management Ltd. lessened its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 310,263 shares of the company’s stock after selling 5,235 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.73% of Spectrum Brands worth $26,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of Spectrum Brands by 243.6% in the 1st quarter. Acadian Asset Management LLC now owns 231,746 shares of the company’s stock valued at $19,700,000 after purchasing an additional 164,296 shares during the period. Iridian Asset Management LLC CT purchased a new position in Spectrum Brands during the first quarter valued at $299,000. CIBC World Markets Inc. purchased a new position in Spectrum Brands during the first quarter valued at $407,000. Systematic Financial Management LP raised its stake in Spectrum Brands by 20.6% during the first quarter. Systematic Financial Management LP now owns 384,181 shares of the company’s stock valued at $32,655,000 after buying an additional 65,613 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in Spectrum Brands during the first quarter valued at $279,000. Institutional investors own 92.92% of the company’s stock.

Shares of SPB opened at $86.59 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.94 and a debt-to-equity ratio of 1.71. Spectrum Brands Holdings, Inc. has a one year low of $43.09 and a one year high of $97.27. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 12.48 and a beta of 1.89. The business has a fifty day moving average price of $89.34.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 6th. The company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.77. Spectrum Brands had a return on equity of 20.92% and a net margin of 6.72%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Spectrum Brands’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 6.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Thursday, May 20th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 19th. Spectrum Brands’s payout ratio is currently 40.98%.

SPB has been the subject of a number of recent research reports. Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $100.00 to $113.00 and gave the company a “buy” rating in a research note on Monday, May 10th. Wells Fargo & Company lifted their price objective on Spectrum Brands from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, May 10th. TheStreet upgraded Spectrum Brands from a “c+” rating to a “b-” rating in a research note on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Spectrum Brands from $104.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, May 17th. Finally, Zacks Investment Research cut Spectrum Brands from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a research note on Monday, April 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $88.14.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell Manufacturing brands; and plumbing products under the Pfister brand.

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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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