MQS Management LLC Takes Position in Spectrum Brands Holdings Inc. (NYSE:SPB)

MQS Management LLC bought a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,723 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors also recently modified their holdings of SPB. Wealth Enhancement Advisory Services LLC grew its holdings in Spectrum Brands by 82.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,938 shares of the company's stock worth $425,000 after buying an additional 2,679 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in Spectrum Brands by 33.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company's stock valued at $14,310,000 after purchasing an additional 50,000 shares during the period. New York State Teachers Retirement System bought a new position in Spectrum Brands in the 1st quarter valued at $118,000. Raymond James Financial Inc. bought a new position in Spectrum Brands in the 4th quarter valued at $972,000. Finally, GAMMA Investing LLC grew its stake in Spectrum Brands by 4,757.5% in the 1st quarter. GAMMA Investing LLC now owns 15,884 shares of the company's stock valued at $1,137,000 after purchasing an additional 15,557 shares during the period.

Spectrum Brands Stock Performance

Shares of NYSE SPB traded down $2.09 during trading on Tuesday, reaching $54.31. 429,324 shares of the stock traded hands, compared to its average volume of 448,715. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.34 and a quick ratio of 1.40. The company has a 50-day moving average of $57.48 and a 200-day moving average of $68.44. The stock has a market capitalization of $1.33 billion, a P/E ratio of 25.99 and a beta of 0.90.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The company had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.46%. Spectrum Brands's dividend payout ratio (DPR) is 89.95%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SPB shares. 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. Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company dropped their price target on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Finally, UBS Group upped their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.17.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the sale, the chief executive officer owned 718,427 shares of the company's stock, valued at $45,814,089.79. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.90% of the company's stock.

About Spectrum Brands

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.