Teza Capital Management LLC Buys New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Teza Capital Management LLC acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,598 shares of the company's stock, valued at approximately $1,064,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pzena Investment Management LLC grew its holdings in shares of Spectrum Brands by 1.7% in the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock worth $112,654,000 after purchasing an additional 22,484 shares during the last quarter. Callodine Capital Management LP increased its position in shares of Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock worth $44,568,000 after acquiring an additional 121,000 shares during the period. FIL Ltd increased its position in shares of Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company's stock worth $38,998,000 after acquiring an additional 36,798 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after acquiring an additional 7,198 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in shares of Spectrum Brands by 4.0% in the fourth quarter. Systematic Financial Management LP now owns 359,748 shares of the company's stock valued at $30,395,000 after purchasing an additional 13,743 shares during the period.

Spectrum Brands Stock Down 2.6%

Shares of Spectrum Brands stock traded down $1.57 during trading on Thursday, reaching $58.55. The company's stock had a trading volume of 604,934 shares, compared to its average volume of 413,638. The company has a 50-day simple moving average of $64.65 and a two-hundred day simple moving average of $77.82. Spectrum Brands Holdings, Inc. has a 1-year low of $56.50 and a 1-year high of $96.62. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results 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). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The company had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the business posted $1.62 earnings per share. Spectrum Brands's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

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

Insiders Place Their Bets

In other news, CEO David M. Maura sold 66,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the completion of the transaction, the chief executive officer now directly owns 723,607 shares in the company, valued at approximately $47,417,966.71. This represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Monness Crespi & Hardt dropped their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Wells Fargo & Company reduced 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 report on Wednesday, April 16th. Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and upped their price target for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, UBS Group increased their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands has an average rating of "Moderate Buy" and a consensus price target of $89.17.

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.