Spectrum Brands Holdings Inc. $SPB Shares Sold by Thompson Siegel & Walmsley LLC

Key Points

• Thompson Siegel & Walmsley LLC cut its Spectrum Brands stake by 11.2% in the fourth quarter, selling 25,065 shares and leaving it with 198,690 shares valued at about $11.7 million.
• Spectrum Brands reported better-than-expected quarterly results, posting EPS of $1.25 versus estimates of $1.04 and revenue of $708.9 million, up 4.9% year over year.
• The company also declared a quarterly dividend of $0.47 per share, and CEO David M. Maura bought 2,500 shares in a recent insider purchase.

Thompson Siegel & Walmsley LLC lessened its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,690 shares of the company's stock after selling 25,065 shares during the period. Thompson Siegel & Walmsley LLC owned 0.86% of Spectrum Brands worth $11,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company's stock worth $107,836,000 after purchasing an additional 260,085 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company's stock worth $1,188,000 after purchasing an additional 10,605 shares during the last quarter. Rovida Advisors Inc. raised its position in shares of Spectrum Brands by 1,140.4% during the 3rd quarter. Rovida Advisors Inc. now owns 60,000 shares of the company's stock worth $3,150,000 after purchasing an additional 55,163 shares during the last quarter. Manning & Napier Advisors LLC raised its position in shares of Spectrum Brands by 9.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company's stock worth $17,724,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. raised its position in shares of Spectrum Brands by 91.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 47,935 shares of the company's stock worth $2,832,000 after purchasing an additional 22,935 shares during the last quarter.

Spectrum Brands Stock Up 0.3%

Shares of NYSE SPB opened at $78.93 on Monday. The company has a 50 day simple moving average of $78.45 and a 200-day simple moving average of $70.18. The company has a market capitalization of $1.83 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.47 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $86.96.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.21. The business had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. On average, equities research analysts predict that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. Spectrum Brands's dividend payout ratio (DPR) is currently 35.88%.

Analyst Ratings Changes

Several research analysts recently weighed in on SPB shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Oppenheimer increased their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $86.20.

Insider Activity

In related news, CEO David M. Maura acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares of the company's stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.

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