Spectrum Brands Holdings, Inc. (NYSE:SPB) Stock Position Decreased by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 77.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,667 shares of the company's stock after selling 9,236 shares during the period. Cresset Asset Management LLC's holdings in Spectrum Brands were worth $225,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in shares of Spectrum Brands during the fourth quarter worth about $16,606,000. Trexquant Investment LP boosted its position in shares of Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock worth $12,563,000 after purchasing an additional 143,068 shares in the last quarter. Callodine Capital Management LP increased its holdings in shares of Spectrum Brands by 29.8% in the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after purchasing an additional 121,000 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Spectrum Brands by 261.9% in the 4th quarter. First Trust Advisors LP now owns 163,143 shares of the company's stock valued at $13,784,000 after purchasing an additional 118,060 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Spectrum Brands by 76.4% in the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock valued at $22,095,000 after purchasing an additional 113,238 shares during the period.

Analysts Set New Price Targets

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

Spectrum Brands Stock Down 2.6%

Shares of NYSE SPB traded down $1.57 during midday trading on Thursday, reaching $58.55. 604,934 shares of the company's stock were exchanged, compared to its average volume of 413,638. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. Spectrum Brands Holdings, Inc. has a 52-week low of $56.50 and a 52-week high of $96.62. The business's fifty day moving average price is $64.65 and its two-hundred day moving average price is $77.82. The stock has a market capitalization of $1.46 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS 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 the consensus estimate of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company's revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio is currently 89.95%.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is owned by corporate insiders.

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.