Jefferies Financial Group Inc. Invests $1.54 Million in Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• Jefferies Financial Group Inc. has invested approximately $1.54 million in Spectrum Brands Holdings, acquiring 21,466 shares during the first quarter.
• The company's CEO, David M. Maura, sold 66,000 shares, reducing his ownership by 8.36% and leaving him with shares valued at around $47.4 million.
• Spectrum Brands recently reported a net revenue decline of 6.0% year-over-year, with earnings per share of $0.68, falling short of analysts' expectations of $1.35.

Jefferies Financial Group Inc. acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,466 shares of the company's stock, valued at approximately $1,536,000. Jefferies Financial Group Inc. owned about 0.08% of Spectrum Brands as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock valued at $69,000 after buying an additional 489 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Spectrum Brands in the first quarter valued at approximately $118,000. Lazard Asset Management LLC boosted its holdings in Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares during the period. Pallas Capital Advisors LLC bought a new position in Spectrum Brands in the 1st quarter worth approximately $253,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Spectrum Brands by 13.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after buying an additional 396 shares during the period.

Spectrum Brands Price Performance

Shares of NYSE:SPB traded up $3.89 during midday trading on Thursday, reaching $56.81. 1,090,925 shares of the company were exchanged, compared to its average volume of 549,650. The company has a current ratio of 2.34, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. The business's fifty day moving average is $55.17 and its two-hundred day moving average is $65.13. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The stock has a market cap of $1.39 billion, a PE ratio of 27.18 and a beta of 0.86.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.11). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company's revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's payout ratio is 89.95%.

Analysts Set New Price Targets

A number of analysts recently weighed in on SPB shares. Wells Fargo & Company decreased their target price on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Monness Crespi & Hardt lowered their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. UBS Group raised 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently 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 Spectrum Brands stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the sale, the chief executive officer owned 723,607 shares of the company's stock, valued at $47,417,966.71. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Spectrum Brands Company Profile

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.