Thompson Siegel & Walmsley LLC Decreases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Thompson Siegel & Walmsley LLC cut its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 34.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,582 shares of the company’s stock after selling 56,200 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.38% of Spectrum Brands worth $9,245,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of Spectrum Brands by 24.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after purchasing an additional 240 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Spectrum Brands in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division acquired a new position in Spectrum Brands during the first quarter worth $30,000. Versant Capital Management Inc grew its stake in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares during the period. Finally, Anchor Capital Advisors LLC increased its holdings in Spectrum Brands by 3.0% in the second quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock valued at $1,335,000 after buying an additional 448 shares in the last quarter.

Analyst Upgrades and Downgrades

SPB has been the subject of several research reports. UBS Group lifted their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group dropped their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $114.00 target price on shares of Spectrum Brands in a report on Friday, June 7th. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.88.

Spectrum Brands Trading Up 2.9 %

Spectrum Brands stock opened at $92.88 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. The firm’s 50-day moving average is $87.78 and its 200-day moving average is $86.85. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The company has a market cap of $2.60 billion, a P/E ratio of 1.88, a PEG ratio of 0.32 and a beta of 1.22.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.81%. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

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.