First Trust Advisors LP Decreases Stock Holdings in Spectrum Brands Holdings Inc. $SPB

First Trust Advisors LP reduced its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 76.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,595 shares of the company's stock after selling 241,202 shares during the period. First Trust Advisors LP owned 0.32% of Spectrum Brands worth $5,498,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in Spectrum Brands by 7,237.5% during the 3rd 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 last quarter. Nomura Asset Management Co. Ltd. grew its position 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 buying an additional 310 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after buying an additional 335 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Spectrum Brands during the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in shares of Spectrum Brands during the third quarter valued at approximately $51,000.

Insider Activity

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by insiders.

Spectrum Brands Price Performance

Shares of SPB stock opened at $88.80 on Tuesday. The business's fifty day moving average is $84.53 and its 200 day moving average is $78.57. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $91.42.

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

Wall Street Analysts Forecast Growth

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

Spectrum Brands 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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