Heartland Advisors Inc. Sells 29,008 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Heartland Advisors Inc. lessened its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,851 shares of the company’s stock after selling 29,008 shares during the quarter. Spectrum Brands accounts for 1.1% of Heartland Advisors Inc.’s investment portfolio, making the stock its 14th largest position. Heartland Advisors Inc. owned approximately 0.46% of Spectrum Brands worth $16,817,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. BlackRock Inc. grew its stake in Spectrum Brands by 0.7% in the 1st quarter. BlackRock Inc. now owns 1,719,088 shares of the company’s stock valued at $146,123,000 after purchasing an additional 12,360 shares during the period. Wells Fargo & Company MN grew its stake in shares of Spectrum Brands by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,220,075 shares of the company’s stock worth $96,361,000 after acquiring an additional 6,986 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Spectrum Brands by 11.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 932,554 shares of the company’s stock worth $73,653,000 after acquiring an additional 93,627 shares during the period. Norges Bank bought a new position in shares of Spectrum Brands during the 4th quarter worth $51,991,000. Finally, Cardinal Capital Management LLC CT bought a new position in shares of Spectrum Brands during the 4th quarter worth $30,984,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Several research firms have recently weighed in on SPB. Zacks Investment Research downgraded Spectrum Brands from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a research note on Monday, April 12th. Wells Fargo & Company increased their price target on Spectrum Brands from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, May 10th. Royal Bank of Canada increased their price target on Spectrum Brands from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, February 19th. Monness Crespi & Hardt increased their price target on Spectrum Brands from $100.00 to $113.00 and gave the stock a “buy” rating in a research note on Monday, May 10th. Finally, TheStreet upgraded Spectrum Brands from a “c+” rating to a “b-” rating in a research note on Tuesday, February 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.14.

NYSE SPB traded down $0.37 during trading hours on Friday, hitting $85.76. The company had a trading volume of 1,601 shares, compared to its average volume of 306,069. Spectrum Brands Holdings, Inc. has a 52 week low of $43.09 and a 52 week high of $97.27. The company’s 50 day moving average is $89.33. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.94 and a quick ratio of 1.06. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 12.41 and a beta of 1.89.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, May 6th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $0.99 by $0.77. Spectrum Brands had a return on equity of 20.92% and a net margin of 6.72%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. Sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 6.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 20th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, May 19th. This represents a $1.68 annualized dividend and a dividend yield of 1.96%. Spectrum Brands’s payout ratio is currently 40.98%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell Manufacturing brands; and plumbing products under the Pfister brand.

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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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