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 the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,723 shares of the company's stock, valued at approximately $338,000.

A number of other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Spectrum Brands in the 4th quarter valued at $50,000. Versant Capital Management Inc increased its position 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. New York State Teachers Retirement System bought a new stake in Spectrum Brands during the 1st quarter worth approximately $118,000. Lazard Asset Management LLC increased its holdings in Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after purchasing an additional 692 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Spectrum Brands in the first quarter valued at approximately $253,000.

Insider Activity

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

Spectrum Brands Stock Performance

SPB traded down $0.03 during mid-day trading on Friday, reaching $56.07. 210,273 shares of the company traded hands, compared to its average volume of 536,370. The stock has a market capitalization of $1.38 billion, a P/E ratio of 26.83 and a beta of 0.90. 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 company's fifty day moving average price is $57.00 and its 200-day moving average price is $68.06. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share 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 net margin of 2.02% and a return on equity of 5.20%. Spectrum Brands's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. On average, sell-side analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, May 27th. Spectrum Brands's payout ratio is 89.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SPB shares. Wells Fargo & Company dropped 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. Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group raised 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. Finally, Monness Crespi & Hardt reduced their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and an average price target of $84.17.

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.