Dimensional Fund Advisors LP Decreases Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Dimensional Fund Advisors reduced its Spectrum Brands stake by 3.0% in the first quarter, selling 29,074 shares and retaining 930,952 shares valued at approximately $68.6 million.
• CEO David M. Maura purchased 2,500 shares for roughly $182,125, while insiders collectively own 4.5% of the company.
• Spectrum Brands exceeded quarterly earnings and revenue expectations, reporting $1.25 in EPS and $708.9 million in revenue. The company also pays a quarterly dividend of $0.47, while analysts’ average rating is “Moderate Buy” with an $87 price target.

Dimensional Fund Advisors LP decreased its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 930,952 shares of the company's stock after selling 29,074 shares during the period. Dimensional Fund Advisors LP owned 4.01% of Spectrum Brands worth $68,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock valued at $31,000 after purchasing an additional 579 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock worth $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC increased its position in shares of Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock valued at $38,000 after purchasing an additional 335 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Spectrum Brands during the 2nd quarter valued at approximately $41,000. Finally, Quarry LP purchased a new stake in Spectrum Brands during the 3rd quarter valued at $51,000.

Insider Activity

In other news, CEO David M. Maura acquired 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares of the company's stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company's stock.

Spectrum Brands Trading Down 0.1%

SPB stock opened at $88.66 on Friday. The company has a market capitalization of $2.04 billion, a PE ratio of 16.92, a P/E/G ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $91.42. The firm's 50-day moving average is $84.32 and its 200 day moving average is $78.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analysts' expectations of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were issued a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. Spectrum Brands's payout ratio is presently 35.88%.

Analysts Set New Price Targets

SPB has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Spectrum Brands from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Canaccord Genuity Group reduced their target price on shares of Spectrum Brands from $100.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of Spectrum Brands from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.

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