Nuveen Asset Management LLC Decreases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Nuveen Asset Management LLC decreased its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,336 shares of the company's stock after selling 35,700 shares during the period. Nuveen Asset Management LLC owned 0.59% of Spectrum Brands worth $13,631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in shares of Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after buying an additional 22,484 shares during the last quarter. Callodine Capital Management LP grew its holdings in shares of Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after buying an additional 121,000 shares during the last quarter. FIL Ltd grew its holdings in shares of Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company's stock valued at $38,998,000 after buying an additional 36,798 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after buying an additional 7,198 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Spectrum Brands by 76.4% during the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock valued at $22,095,000 after buying an additional 113,238 shares during the last quarter.

Spectrum Brands Stock Performance

SPB stock traded down $0.62 on Friday, hitting $57.77. The company had a trading volume of 606,023 shares, compared to its average volume of 415,659. The stock's 50-day simple moving average is $62.88 and its 200 day simple moving average is $76.04. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 12-month low of $56.50 and a 12-month high of $96.62. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The business had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. During the same quarter in the prior year, the business earned $1.62 EPS. The company's revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.25%. Spectrum Brands's dividend payout ratio is currently 89.95%.

Analysts Set New Price Targets

SPB has been the topic of a number of recent analyst reports. 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 report on Friday, May 9th. Wells Fargo & Company cut their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Royal Bank of Canada dropped their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Monness Crespi & Hardt dropped their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Spectrum Brands presently has an average rating of "Moderate Buy" and an average target price of $89.17.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura sold 5,180 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the sale, the chief executive officer now owns 718,427 shares of the company's stock, valued at approximately $45,814,089.79. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.60% of the company's stock.

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.