Spectrum Brands Holdings Inc. (NYSE:SPB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 25.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,502,914 shares of the company's stock after selling 510,689 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.71% of Spectrum Brands worth $106,947,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC raised its holdings in shares of Spectrum Brands by 33.3% during the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company's stock valued at $14,310,000 after acquiring an additional 50,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at approximately $16,606,000. Raymond James Financial Inc. acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at approximately $972,000. Finally, Versor Investments LP acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at approximately $331,000.

Insider Buying and Selling

In other news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the completion of the transaction, the chief executive officer now directly owns 718,427 shares in the company, valued at $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPB shares. UBS Group increased their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group set a $77.00 price target on Spectrum Brands and gave the company a "buy" rating in a report on Wednesday. Wells Fargo & Company cut their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Monness Crespi & Hardt cut their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Spectrum Brands Trading Down 0.9%

Shares of Spectrum Brands stock opened at $52.91 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 25.31 and a beta of 0.93. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two week high of $96.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. The stock has a 50 day moving average of $58.71 and a 200 day moving average of $70.72.

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 for the quarter, missing the consensus estimate of $1.35 by ($0.67). The business had revenue of $675.70 million during 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 company's revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. As a group, research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.55%. Spectrum Brands's payout ratio is 89.95%.

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.

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