Lecap Asset Management Ltd. Sells 6,735 Shares of Spectrum Brands Holdings Inc. (NYSE:SPB)

Lecap Asset Management Ltd. reduced its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 68.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,079 shares of the company's stock after selling 6,735 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Spectrum Brands were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in Spectrum Brands during the 4th quarter valued at $50,000. Versant Capital Management Inc boosted its stake in Spectrum Brands by 101.7% during the first 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. Lazard Asset Management LLC grew its holdings in Spectrum Brands by 89.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after acquiring an additional 692 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Spectrum Brands by 13.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after acquiring an additional 396 shares during the period. Finally, Pallas Capital Advisors LLC bought a new stake in Spectrum Brands in the first quarter worth about $253,000.

Spectrum Brands Trading Up 0.2%

Shares of SPB stock traded up $0.11 during trading hours on Monday, reaching $52.96. 699,592 shares of the stock traded hands, compared to its average volume of 444,226. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.30 billion, a PE ratio of 25.34 and a beta of 0.94. Spectrum Brands Holdings Inc. has a 1-year low of $50.73 and a 1-year high of $96.62. The business has a fifty day moving average price of $58.59 and a 200 day moving average price of $70.31.

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

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Tuesday, May 27th. Spectrum Brands's dividend payout ratio (DPR) is currently 89.95%.

Insider Activity at Spectrum Brands

In related 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 transaction of $4,324,980.00. Following the completion of the sale, the chief executive officer directly owned 723,607 shares in the company, valued at approximately $47,417,966.71. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group set a $77.00 target price on shares of Spectrum Brands and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company cut their price objective on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Monness Crespi & Hardt reduced their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, UBS Group lifted 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Spectrum Brands has a consensus rating of "Moderate Buy" and an average target price of $85.00.

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.