Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 21.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 246,655 shares of the company's stock after selling 66,560 shares during the period. Bank of America Corp DE owned approximately 0.90% of Spectrum Brands worth $20,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands in the fourth quarter valued at approximately $50,000. Blue Trust Inc. lifted its stake in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after acquiring an additional 375 shares during the last quarter. KBC Group NV lifted its stake in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after acquiring an additional 390 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in Spectrum Brands in the fourth quarter worth approximately $237,000. Finally, Fox Run Management L.L.C. lifted its stake in Spectrum Brands by 5.3% in the fourth quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock worth $308,000 after acquiring an additional 185 shares during the last quarter.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the company's stock in a transaction 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 in the company, valued at $45,814,089.79. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPB shares. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group lifted their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Monness Crespi & Hardt decreased their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Trading Down 2.8%

Shares of Spectrum Brands stock opened at $63.64 on Tuesday. The company has a fifty day simple moving average of $65.01 and a 200-day simple moving average of $78.04. 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. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.70 and a beta of 1.00.

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 analysts' consensus estimates 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 last year, the business posted $1.62 earnings per share. The business's revenue was down 6.0% on a year-over-year basis. On average, equities analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a $0.47 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.95%. Spectrum Brands's dividend payout ratio (DPR) is 89.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.