Wellington Management Group LLP Sells 20,422 Shares of Spectrum Brands Holdings Inc. $SPB

Key Points

• Wellington Management Group LLP reduced its stake in Spectrum Brands Holdings Inc. by 4.0%, selling 20,422 shares during the first quarter, and now holds approximately 1.87% of the company valued at $35.1 million.
• Spectrum Brands recently reported its earnings, missing analysts' expectations with $1.24 earnings per share and a revenue of $699.6 million, down 10.2% from the same quarter last year.
• The company declared a quarterly dividend of $0.47 per share, translating to an annualized dividend of $1.88 and a dividend yield of 3.3% for investors of record on August 26th.

Wellington Management Group LLP lessened its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 491,149 shares of the company's stock after selling 20,422 shares during the quarter. Wellington Management Group LLP owned 1.87% of Spectrum Brands worth $35,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of SPB. Versant Capital Management Inc grew its stake in shares of Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after acquiring an additional 489 shares during the period. New York State Teachers Retirement System purchased a new stake in Spectrum Brands during the 1st quarter worth about $118,000. Lazard Asset Management LLC lifted its holdings in Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after purchasing an additional 692 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at about $253,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at about $258,000.

Spectrum Brands Stock Down 0.8%

Shares of SPB stock traded down $0.45 during mid-day trading on Thursday, hitting $56.07. The company's stock had a trading volume of 488,600 shares, compared to its average volume of 544,160. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62. The business has a 50-day moving average price of $55.66 and a 200 day moving average price of $62.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 20.92 and a beta of 0.86.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The business had revenue of $699.60 million during the quarter, compared to analysts' expectations of $742.13 million. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm's revenue for the quarter was down 10.2% compared to the same quarter last year. Research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.4%. Spectrum Brands's payout ratio is presently 70.15%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPB. Wells Fargo & Company decreased their price objective 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. UBS Group raised their price target on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an "outperform" rating in a research report on Monday, August 11th. Monness Crespi & Hardt dropped their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of "Moderate Buy" and an average target price of $74.80.

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.