Spectrum Brands Holdings, Inc. (NYSE:SPB) Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,025 shares of the company’s stock after selling 250 shares during the quarter. Gabelli Funds LLC owned approximately 0.27% of Spectrum Brands worth $8,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Spectrum Brands by 2.2% in the third quarter. Vanguard Group Inc. now owns 4,104,370 shares of the company’s stock worth $160,192,000 after buying an additional 87,333 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Spectrum Brands by 13.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,169,251 shares of the company’s stock worth $169,310,000 after buying an additional 252,286 shares during the period. BlackRock Inc. boosted its holdings in shares of Spectrum Brands by 2.5% in the first quarter. BlackRock Inc. now owns 1,805,193 shares of the company’s stock worth $119,540,000 after buying an additional 43,252 shares during the period. Invesco Ltd. boosted its holdings in shares of Spectrum Brands by 194.0% in the first quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock worth $134,369,000 after buying an additional 999,459 shares during the period. Finally, Sachem Head Capital Management LP boosted its holdings in shares of Spectrum Brands by 43.9% in the first quarter. Sachem Head Capital Management LP now owns 1,512,700 shares of the company’s stock worth $100,171,000 after buying an additional 461,700 shares during the period.

Insider Activity at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $82.89 per share, with a total value of $414,450.00. Following the completion of the transaction, the chief executive officer now owns 693,816 shares in the company, valued at $57,510,408.24. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Ehsan Zargar purchased 843 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were bought at an average price of $82.98 per share, with a total value of $69,952.14. Following the completion of the transaction, the executive vice president now directly owns 117,335 shares in the company, valued at approximately $9,736,458.30. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO David M. Maura purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $82.89 per share, for a total transaction of $414,450.00. Following the transaction, the chief executive officer now owns 693,816 shares of the company’s stock, valued at $57,510,408.24. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SPB has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $94.00 to $83.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada started coverage on shares of Spectrum Brands in a research report on Wednesday, August 23rd. They issued an “outperform” rating and a $96.00 price target for the company. StockNews.com started coverage on shares of Spectrum Brands in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered shares of Spectrum Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $90.00 to $73.00 in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.80.

Spectrum Brands Price Performance

Shares of SPB opened at $66.15 on Tuesday. The firm has a market cap of $2.36 billion, a PE ratio of 1.48, a PEG ratio of 0.66 and a beta of 1.36. The firm’s 50 day moving average price is $76.78 and its 200 day moving average price is $76.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.94 and a current ratio of 2.23. Spectrum Brands Holdings, Inc. has a twelve month low of $46.54 and a twelve month high of $85.25.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, November 17th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.33. The firm had revenue of $740.70 million for the quarter, compared to analyst estimates of $739.43 million. Spectrum Brands had a net margin of 61.47% and a return on equity of 1.99%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, research analysts expect that Spectrum Brands Holdings, Inc. will post 1.39 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, November 29th. Spectrum Brands’s payout ratio is presently 3.77%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.