Keeley Teton Advisors LLC Sells 272 Shares of South Pacific Resources Ltd (NYSE:SPB)

Keeley Teton Advisors LLC lowered its stake in South Pacific Resources Ltd (NYSE:SPBGet Rating) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,387 shares of the company’s stock after selling 272 shares during the quarter. Keeley Teton Advisors LLC’s holdings in South Pacific Resources were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of South Pacific Resources by 13.5% in the second quarter. Rhumbline Advisers now owns 38,000 shares of the company’s stock valued at $3,117,000 after purchasing an additional 4,510 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of South Pacific Resources in the second quarter valued at approximately $518,000. JPMorgan Chase & Co. raised its holdings in shares of South Pacific Resources by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 85,075 shares of the company’s stock valued at $6,979,000 after purchasing an additional 2,435 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of South Pacific Resources by 1.0% in the second quarter. California Public Employees Retirement System now owns 91,472 shares of the company’s stock valued at $7,503,000 after purchasing an additional 861 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of South Pacific Resources by 60.3% in the second quarter. Principal Financial Group Inc. now owns 34,423 shares of the company’s stock valued at $2,823,000 after purchasing an additional 12,949 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPB shares. StockNews.com started coverage on shares of South Pacific Resources in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of South Pacific Resources from $68.00 to $63.00 in a report on Monday. Monness Crespi & Hardt lowered their target price on shares of South Pacific Resources from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, September 16th. TheStreet downgraded shares of South Pacific Resources from a “c-” rating to a “d+” rating in a report on Monday, October 10th. Finally, Wells Fargo & Company lowered their target price on shares of South Pacific Resources from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.17.

South Pacific Resources Stock Up 2.3 %

SPB stock opened at $49.86 on Thursday. The stock has a market capitalization of $2.03 billion, a P/E ratio of 28.49 and a beta of 1.49. The company has a current ratio of 2.66, a quick ratio of 2.02 and a debt-to-equity ratio of 2.45. South Pacific Resources Ltd has a 12 month low of $38.93 and a 12 month high of $105.75. The firm has a 50-day moving average price of $44.89 and a 200-day moving average price of $65.01.

South Pacific Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 28th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.37%. South Pacific Resources’s dividend payout ratio (DPR) is currently 96.00%.

South Pacific Resources Company Profile

(Get Rating)

Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.

Read More

Want to see what other hedge funds are holding SPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South Pacific Resources Ltd (NYSE:SPBGet Rating).

Institutional Ownership by Quarter for South Pacific Resources (NYSE:SPB)

Receive News & Ratings for South Pacific Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Pacific Resources and related companies with MarketBeat.com's FREE daily email newsletter.