Keeley Teton Advisors LLC Sells 8,758 Shares of 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 cut its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,213 shares of the company's stock after selling 8,758 shares during the quarter. Spectrum Brands comprises 0.9% of Keeley Teton Advisors LLC's portfolio, making the stock its 17th biggest holding. Keeley Teton Advisors LLC owned 0.39% of Spectrum Brands worth $7,313,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pullen Investment Management LLC increased its holdings in shares of Spectrum Brands by 2.8% during the 1st quarter. Pullen Investment Management LLC now owns 12,361 shares of the company's stock worth $884,000 after acquiring an additional 333 shares during the last quarter. Humankind Investments LLC grew its holdings in Spectrum Brands by 7.5% in the 4th quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock valued at $431,000 after buying an additional 355 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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 valued at $275,000 after buying an additional 396 shares in the last quarter. Versant Capital Management Inc grew its holdings 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 in the last quarter. Finally, Lazard Asset Management LLC grew 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 valued at $123,000 after buying an additional 692 shares in the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the topic of several analyst reports. Monness Crespi & Hardt reduced their target price on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. UBS Group increased their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the stock an "outperform" rating in a report on Monday, August 11th. Canaccord Genuity Group reduced their price objective on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Wells Fargo & Company reduced their price objective on 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.80.

Spectrum Brands Trading Up 1.9%

Spectrum Brands stock traded up $1.08 during trading hours on Friday, hitting $57.03. The stock had a trading volume of 537,265 shares, compared to its average volume of 572,408. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 21.28 and a beta of 0.86. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The business's 50 day simple moving average is $55.84 and its 200-day simple moving average is $61.94.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.24 EPS 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 the consensus estimate 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 for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 earnings per share. On average, equities analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's dividend payout ratio is currently 70.15%.

Spectrum Brands 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.