Spectrum Brands Holdings Inc. $SPB Position Lowered by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its stake in Spectrum Brands Holdings Inc. by 91.8%, now holding 7,081 shares valued at $507,000.
• Spectrum Brands reported a net margin of 2.56% and a quarterly revenue of $699.60 million, which fell short of analyst expectations of $742.13 million.
• The company recently announced a $0.47 quarterly dividend, providing a dividend yield of 3.3%, with a dividend payout ratio of 70.15%.

Algert Global LLC reduced its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 91.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,081 shares of the company's stock after selling 78,940 shares during the period. Algert Global LLC's holdings in Spectrum Brands were worth $507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Spectrum Brands by 7.5% in the 1st quarter. American Century Companies Inc. now owns 1,319,420 shares of the company's stock worth $94,405,000 after acquiring an additional 92,418 shares during the period. Alberta Investment Management Corp grew its stake in shares of Spectrum Brands by 33.1% during the 1st quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after buying an additional 186,729 shares during the period. LSV Asset Management grew its stake in shares of Spectrum Brands by 2.7% during the 1st quarter. LSV Asset Management now owns 662,475 shares of the company's stock valued at $47,400,000 after buying an additional 17,445 shares during the period. Systematic Financial Management LP grew its stake in shares of Spectrum Brands by 4.0% during the 4th quarter. Systematic Financial Management LP now owns 359,748 shares of the company's stock valued at $30,395,000 after buying an additional 13,743 shares during the period. Finally, Man Group plc grew its stake in shares of Spectrum Brands by 160.5% during the 4th quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after buying an additional 197,263 shares during the period.

Spectrum Brands Stock Down 0.8%

SPB stock traded down $0.45 during trading on Thursday, reaching $56.07. The stock had a trading volume of 488,600 shares, compared to its average volume of 544,160. Spectrum Brands Holdings Inc. has a 1-year low of $50.73 and a 1-year high of $96.62. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.36 billion, a P/E ratio of 20.92 and a beta of 0.86. The firm has a fifty day moving average price of $55.66 and a 200 day moving average price of $62.32.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same quarter in the prior year, the firm earned $1.13 EPS. The business's quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.4%. Spectrum Brands's dividend payout ratio (DPR) is presently 70.15%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SPB shares. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Canaccord Genuity Group lowered their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Monness Crespi & Hardt decreased their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Spectrum Brands has an average rating of "Moderate Buy" and a consensus price target of $74.80.

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.