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Bailard Inc. Makes New $644,000 Investment in Spectrum Brands Holdings Inc. (NYSE:SPB)

Spectrum Brands logo with Consumer Discretionary background

Bailard Inc. bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,000 shares of the company's stock, valued at approximately $644,000.

Several other large investors have also recently added to or reduced their stakes in SPB. Raymond James Financial Inc. acquired a new position in shares of Spectrum Brands during the fourth quarter worth about $972,000. Swiss National Bank raised its holdings in shares of Spectrum Brands by 0.7% during the 4th quarter. Swiss National Bank now owns 55,099 shares of the company's stock valued at $4,655,000 after buying an additional 400 shares during the period. Teacher Retirement System of Texas lifted its position in Spectrum Brands by 17.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,756 shares of the company's stock worth $1,754,000 after acquiring an additional 3,118 shares in the last quarter. Magnetar Financial LLC acquired a new position in Spectrum Brands during the 4th quarter worth approximately $985,000. Finally, Semanteon Capital Management LP purchased a new position in Spectrum Brands in the 4th quarter worth approximately $506,000.

Insider Activity

In other news, CEO David M. Maura sold 5,180 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the transaction, the chief executive officer owned 718,427 shares in the company, valued at approximately $45,814,089.79. This 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. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

SPB has been the topic of a number of recent analyst reports. UBS Group upped their target price on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Monness Crespi & Hardt decreased their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, Canaccord Genuity Group set a $77.00 target price on shares of Spectrum Brands and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $84.17.

View Our Latest Stock Analysis on SPB

Spectrum Brands Trading Up 2.4%

Shares of NYSE:SPB traded up $1.41 during mid-day trading on Wednesday, hitting $59.65. The stock had a trading volume of 728,445 shares, compared to its average volume of 449,259. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. The company has a market cap of $1.46 billion, a PE ratio of 28.54 and a beta of 0.90. Spectrum Brands Holdings Inc. has a 12-month low of $50.73 and a 12-month high of $96.62. The company's 50 day moving average is $56.23 and its 200-day moving average is $67.13.

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

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. Spectrum Brands's dividend payout ratio is 89.95%.

Spectrum Brands Profile

(Free Report)

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.

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

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