Monarch Partners Asset Management LLC boosted its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 257.3% during the second quarter, Holdings Channel reports. The firm owned 138,604 shares of the company’s stock after buying an additional 99,815 shares during the period. Spectrum Brands Holdings makes up approximately 1.7% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Monarch Partners Asset Management LLC’s holdings in Spectrum Brands Holdings were worth $16,537,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Newbrook Capital Advisors LP purchased a new stake in Spectrum Brands Holdings during the first quarter valued at $37,112,000. Credit Agricole S A boosted its position in Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock worth $43,025,000 after buying an additional 332,446 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Spectrum Brands Holdings by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,105,965 shares of the company’s stock worth $120,860,000 after buying an additional 108,842 shares during the last quarter. Oskie Capital Management LLC bought a new position in Spectrum Brands Holdings during the first quarter worth $9,002,000. Finally, Hartford Investment Management Co. bought a new position in Spectrum Brands Holdings during the second quarter worth $3,498,000. 45.41% of the stock is owned by institutional investors and hedge funds.
Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) traded up 0.99% during trading on Friday, reaching $137.69. 385,955 shares of the company’s stock traded hands. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 27.97 and a beta of 0.77. Spectrum Brands Holdings Inc. has a 1-year low of $87.65 and a 1-year high of $138.95. The stock has a 50-day moving average of $131.61 and a 200-day moving average of $119.65.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, equities analysts predict that Spectrum Brands Holdings Inc. will post $0.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio is presently 32.69%.
A number of research firms recently weighed in on SPB. Jefferies Group increased their price objective on shares of Spectrum Brands Holdings from $147.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research raised shares of Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research report on Thursday. Piper Jaffray Cos. began coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price objective for the company. Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Eight equities research analysts have rated the stock with a buy rating, Spectrum Brands Holdings has a consensus rating of “Buy” and an average price target of $142.33.
In other news, insider David M. Maura acquired 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price of $127.47 per share, with a total value of $254,940.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey L. Neu sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at approximately $492,954. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by insiders.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
Want to see what other hedge funds are holding SPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Brands Holdings Inc. (NYSE:SPB).
Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.