Vest Financial LLC Takes Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Vest Financial LLC purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,731 shares of the company's stock, valued at approximately $768,000.

A number of other large investors have also added to or reduced their stakes in SPB. Man Group plc raised its stake in Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after purchasing an additional 197,263 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Spectrum Brands in the 4th quarter worth about $16,606,000. Two Sigma Advisers LP raised its position in shares of Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock valued at $19,754,000 after buying an additional 187,400 shares in the last quarter. Trexquant Investment LP raised 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 valued at $12,563,000 after buying an additional 143,068 shares in the last quarter. Finally, Callodine Capital Management LP grew its position in Spectrum Brands by 29.8% in 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 in the last quarter.

Spectrum Brands Trading Down 1.5%

SPB traded down $0.80 during trading hours on Thursday, reaching $54.19. 664,539 shares of the company's stock traded hands, compared to its average volume of 421,420. The firm has a 50-day moving average price of $60.67 and a 200 day moving average price of $74.23. The firm has a market capitalization of $1.35 billion, a PE ratio of 13.31, a PEG ratio of 1.70 and a beta of 0.94. 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 Holdings, Inc. has a 52-week low of $53.89 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued 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). The company had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. As a group, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio is presently 89.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPB shares. Monness Crespi & Hardt lowered their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Wells Fargo & Company lowered their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, UBS Group lifted their price objective 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of Spectrum Brands stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total transaction of $330,328.60. Following the transaction, the chief executive officer now directly owns 718,427 shares of the company's stock, valued at $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 available through this link. 3.60% of the stock is owned by company 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.