Sherbrooke Park Advisers LLC Buys New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Sherbrooke Park Advisers LLC purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,498 shares of the company's stock, valued at approximately $1,056,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC raised its position in shares of Spectrum Brands by 1.2% in the fourth quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after buying an additional 184 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Spectrum Brands by 5.3% in the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock valued at $308,000 after purchasing an additional 185 shares in the last quarter. Legato Capital Management LLC grew its stake in Spectrum Brands by 2.2% during the fourth quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock worth $786,000 after buying an additional 198 shares during the period. Humankind Investments LLC increased its holdings in Spectrum Brands by 7.5% in the 4th quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock valued at $431,000 after purchasing an additional 355 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after buying an additional 375 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPB. 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 report on Wednesday, May 14th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company dropped their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada decreased their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, UBS Group increased their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock 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 stock. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Stock Performance

NYSE SPB traded down $2.90 on Wednesday, hitting $61.10. The stock had a trading volume of 177,446 shares, compared to its average volume of 417,392. The company's 50-day moving average is $64.88 and its two-hundred day moving average is $77.94. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 15.04, 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 Holdings, Inc. has a one year low of $56.50 and a one year high of $96.62.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The business had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The company's revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid 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 3.08%. Spectrum Brands's dividend payout ratio (DPR) is currently 89.95%.

Insider Buying and Selling

In other news, CEO David M. Maura sold 5,180 shares of the business's stock in a transaction dated 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 owns 718,427 shares in the company, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently owned by corporate 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.