Edgestream Partners L.P. Invests $1 Million in Spectrum Brands Holdings Inc. (NYSE:SPB)

Edgestream Partners L.P. bought a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,990 shares of the company's stock, valued at approximately $1,001,000. Edgestream Partners L.P. owned approximately 0.05% of Spectrum Brands at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MQS Management LLC acquired a new stake in shares of Spectrum Brands in the 1st quarter worth about $338,000. CWM LLC boosted its position in shares of Spectrum Brands by 217.8% during the first quarter. CWM LLC now owns 8,043 shares of the company's stock valued at $575,000 after buying an additional 5,512 shares during the last quarter. Cerity Partners LLC raised its position in Spectrum Brands by 14.9% in the 1st quarter. Cerity Partners LLC now owns 6,486 shares of the company's stock valued at $464,000 after buying an additional 841 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Spectrum Brands during the 1st quarter worth $1,789,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Spectrum Brands in the 1st quarter worth $286,000.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura sold 66,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the completion of the sale, the chief executive officer owned 723,607 shares in the company, valued at approximately $47,417,966.71. This represents a 8.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.

Spectrum Brands Trading Down 0.2%

Shares of SPB traded down $0.14 during mid-day trading on Friday, hitting $55.96. 431,707 shares of the company's stock traded hands, compared to its average volume of 447,848. The business's 50-day moving average price is $56.72 and its 200-day moving average price is $67.67. Spectrum Brands Holdings Inc. has a 1 year low of $50.73 and a 1 year high of $96.62. The firm has a market capitalization of $1.37 billion, a P/E ratio of 26.78 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.

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

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a $0.47 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.36%. Spectrum Brands's dividend payout ratio is currently 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.