Universal Beteiligungs und Servicegesellschaft mbH Buys 7,523 Shares of Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Spectrum Brands Holdings Inc. by 23.0%, acquiring an additional 7,523 shares to total 40,162 shares valued at approximately $2.87 million.
• CEO David M. Maura sold 5,180 shares of Spectrum Brands for about $330,328, reducing his holdings to 718,427 shares worth around $45.81 million.
• Spectrum Brands reported earnings of $0.68 per share, missing analysts' estimates of $1.35, with a revenue of $675.70 million for the quarter, down 6.0% year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 23.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,162 shares of the company's stock after purchasing an additional 7,523 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.15% of Spectrum Brands worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bailard Inc. purchased a new stake in Spectrum Brands during the 1st quarter valued at approximately $644,000. Victory Capital Management Inc. grew its stake in Spectrum Brands by 162.0% during the first quarter. Victory Capital Management Inc. now owns 60,600 shares of the company's stock valued at $4,336,000 after acquiring an additional 37,467 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Spectrum Brands in the 1st quarter valued at $1,001,000. MQS Management LLC purchased a new stake in Spectrum Brands in the 1st quarter worth $338,000. Finally, CWM LLC boosted its holdings in shares of Spectrum Brands by 217.8% during the 1st quarter. CWM LLC now owns 8,043 shares of the company's stock valued at $575,000 after purchasing an additional 5,512 shares during the last quarter.

Spectrum Brands Trading Down 1.9%

Shares of NYSE SPB traded down $0.99 during trading hours on Friday, hitting $52.52. 591,781 shares of the company traded hands, compared to its average volume of 485,423. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 25.13 and a beta of 0.90. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The company's 50 day moving average price is $55.43 and its 200 day moving average price is $65.80. 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 (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share 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 2.02% and a return on equity of 5.20%. The company's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. On average, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.6%. Spectrum Brands's payout ratio is 89.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPB shares. Wells Fargo & Company reduced their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Monness Crespi & Hardt reduced their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, UBS Group raised their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.17.

Insiders Place Their Bets

In other news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 718,427 shares in the company, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.90% of the stock is currently owned by company insiders.

About Spectrum Brands

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.