Spectrum Brands Holdings Inc. (NYSE:SPB) Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 302,714 shares of the company's stock after selling 18,140 shares during the quarter. Bank of New York Mellon Corp owned 1.15% of Spectrum Brands worth $21,659,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPB. Raymond James Financial Inc. acquired a new stake in Spectrum Brands during the 4th quarter worth approximately $972,000. Swiss National Bank grew its position in Spectrum Brands by 0.7% in the fourth quarter. Swiss National Bank now owns 55,099 shares of the company's stock valued at $4,655,000 after acquiring an additional 400 shares in the last quarter. Teacher Retirement System of Texas grew its position in Spectrum Brands by 17.7% in the fourth quarter. Teacher Retirement System of Texas now owns 20,756 shares of the company's stock valued at $1,754,000 after acquiring an additional 3,118 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Spectrum Brands in the fourth quarter valued at approximately $985,000. Finally, Semanteon Capital Management LP acquired a new stake in Spectrum Brands in the fourth quarter valued at approximately $506,000.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura sold 66,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the transaction, the chief executive officer directly owned 723,607 shares in the company, valued at $47,417,966.71. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group increased their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Canaccord Genuity Group set a $77.00 price objective on shares of Spectrum Brands and gave the company a "buy" rating in a research report on Wednesday, June 25th. Monness Crespi & Hardt lowered their price objective 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. Finally, 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 report on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Spectrum Brands currently has an average rating of "Moderate Buy" and an average target price of $84.17.

Spectrum Brands Stock Down 0.8%

Shares of Spectrum Brands stock traded down $0.44 on Monday, hitting $55.63. 378,328 shares of the company's stock traded hands, compared to its average volume of 447,570. The stock has a market cap of $1.36 billion, a P/E ratio of 26.62 and a beta of 0.90. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $56.72 and its 200 day moving average is $67.45. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62.

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

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, May 27th. Spectrum Brands's dividend payout ratio (DPR) is presently 89.95%.

About Spectrum Brands

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.