Spectrum Brands Holdings Inc. (NYSE:SPB) Stock Holdings Reduced by Allspring Global Investments Holdings LLC

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

A number of other hedge funds also recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC raised its stake in Spectrum Brands by 1.2% during the 4th quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after acquiring an additional 184 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in Spectrum Brands by 5.3% during the fourth quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock worth $308,000 after purchasing an additional 185 shares in the last quarter. Pullen Investment Management LLC lifted its position in Spectrum Brands by 2.8% in the first quarter. Pullen Investment Management LLC now owns 12,361 shares of the company's stock worth $884,000 after purchasing an additional 333 shares during the period. Humankind Investments LLC increased its position in shares of Spectrum Brands by 7.5% during the 4th quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock valued at $431,000 after purchasing an additional 355 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Spectrum Brands by 13.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after buying an additional 396 shares in the last quarter.

Insider Buying and Selling at Spectrum Brands

In related news, CEO David M. Maura sold 66,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.

Spectrum Brands Trading Up 1.7%

Shares of SPB traded up $0.96 during midday trading on Wednesday, hitting $56.38. The stock had a trading volume of 564,517 shares, compared to its average volume of 543,400. The business has a 50-day simple moving average of $58.49 and a two-hundred day simple moving average of $70.21. The firm has a market cap of $1.38 billion, a P/E ratio of 26.98 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two 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 (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. As a group, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.33%. Spectrum Brands's dividend payout ratio (DPR) is presently 89.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on 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 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. Monness Crespi & Hardt dropped their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, UBS Group raised their price objective on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. 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 Company 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.