Sei Investments Co. Buys 51,979 Shares of Spectrum Brands Holdings Inc. $SPB

Sei Investments Co. boosted its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 127.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,706 shares of the company’s stock after purchasing an additional 51,979 shares during the quarter. Sei Investments Co. owned approximately 0.40% of Spectrum Brands worth $6,832,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPB. Northwestern Mutual Wealth Management Co. grew its position in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after buying an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP boosted its stake in Spectrum Brands by 20.4% in the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after acquiring an additional 350,261 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Spectrum Brands in the second quarter valued at approximately $15,409,000. Qube Research & Technologies Ltd grew its holdings in Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after purchasing an additional 224,481 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Spectrum Brands during the second quarter worth $7,317,000.

Insider Activity

In other news, CEO David M. Maura bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by insiders.

Spectrum Brands Price Performance

NYSE SPB opened at $88.80 on Tuesday. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The stock’s fifty day moving average price is $84.53 and its 200 day moving average price is $78.57. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $91.42.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPB. Wells Fargo & Company increased their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Canaccord Genuity Group reduced their target price on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.