Keeley Teton Advisors LLC Cuts Position in Spectrum Brands Holdings Inc. $SPB

Key Points

• Keeley Teton Advisors LLC reduced its stake in Spectrum Brands by 7.9%, now holding 102,213 shares, which accounts for about 0.9% of its portfolio.
• Spectrum Brands reported earnings of $1.24 per share, missing estimates, and its revenue decreased by 10.2% year-over-year to $699.60 million.
• Wall Street analysts have mixed ratings on Spectrum Brands, with an average target price of $74.80, indicating a consensus recommendation of "Moderate Buy."

Keeley Teton Advisors LLC trimmed its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,213 shares of the company's stock after selling 8,758 shares during the period. Spectrum Brands comprises about 0.9% of Keeley Teton Advisors LLC's portfolio, making the stock its 17th biggest position. Keeley Teton Advisors LLC owned 0.39% of Spectrum Brands worth $7,313,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SPB. Raymond James Financial Inc. purchased a new stake in shares of Spectrum Brands during the fourth quarter worth approximately $972,000. Marshall Wace LLP increased its stake in shares of Spectrum Brands by 6.5% during the fourth quarter. Marshall Wace LLP now owns 20,071 shares of the company's stock worth $1,696,000 after buying an additional 1,220 shares during the period. First Trust Advisors LP increased its stake in shares of Spectrum Brands by 261.9% during the fourth quarter. First Trust Advisors LP now owns 163,143 shares of the company's stock worth $13,784,000 after buying an additional 118,060 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Spectrum Brands by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,205 shares of the company's stock worth $1,623,000 after buying an additional 747 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Spectrum Brands by 3.5% during the fourth quarter. Tudor Investment Corp ET AL now owns 98,140 shares of the company's stock worth $8,292,000 after buying an additional 3,324 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. UBS Group increased their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group dropped their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $74.80.

Spectrum Brands Price Performance

SPB stock opened at $56.9390 on Tuesday. The company has a market capitalization of $1.38 billion, a P/E ratio of 21.25 and a beta of 0.86. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The business has a 50 day simple moving average of $55.50 and a 200-day simple moving average of $62.40. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. Spectrum Brands's revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a $0.47 dividend. 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 dividend payout ratio is presently 70.15%.

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.

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