Tributary Capital Management LLC boosted its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 12.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 16,300 shares of the company’s stock after buying an additional 1,800 shares during the period. Tributary Capital Management LLC’s holdings in Spectrum Brands Holdings were worth $2,038,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Spectrum Brands Holdings during the second quarter worth approximately $100,000. Invictus RG purchased a new position in shares of Spectrum Brands Holdings during the first quarter valued at about $156,000. Envestnet Asset Management Inc. raised its position in shares of Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock valued at $179,000 after buying an additional 21 shares during the period. TD Asset Management Inc. purchased a new position in shares of Spectrum Brands Holdings during the first quarter valued at about $211,000. Finally, Fulton Bank N.A. bought a new stake in Spectrum Brands Holdings during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 48.15% of the company’s stock.
Spectrum Brands Holdings, Inc. (NYSE SPB) traded up 0.17% during midday trading on Monday, hitting $112.18. The company had a trading volume of 539,561 shares. The firm has a market capitalization of $6.51 billion, a P/E ratio of 22.97 and a beta of 0.66. Spectrum Brands Holdings, Inc. has a 52 week low of $108.30 and a 52 week high of $146.09. The firm’s 50 day moving average is $124.71 and its 200-day moving average is $132.49. Spectrum Brands Holdings also was the target of unusually large options trading activity on Friday. Stock investors acquired 13,921 call options on the stock. This represents an increase of approximately 912% compared to the typical daily volume of 1,376 call options.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by $0.21. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 EPS. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post $5.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, August 11th. Spectrum Brands Holdings’s dividend payout ratio is presently 34.29%.
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A number of research firms recently commented on SPB. Deutsche Bank AG reiterated a “buy” rating and issued a $131.00 price objective (down previously from $149.00) on shares of Spectrum Brands Holdings in a report on Monday, July 31st. Jefferies Group LLC set a $143.00 price target on Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 price objective on Spectrum Brands Holdings and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a report on Saturday, July 29th. Finally, BMO Capital Markets reduced their price target on Spectrum Brands Holdings from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $143.88.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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