Quantinno Capital Management LP Sells 59,923 Shares of Spectrum Brands Holdings Inc. $SPB

Quantinno Capital Management LP trimmed its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 660,384 shares of the company’s stock after selling 59,923 shares during the quarter. Quantinno Capital Management LP owned 2.85% of Spectrum Brands worth $48,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. ProShare Advisors LLC boosted its position in Spectrum Brands by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after buying an additional 140 shares during the period. Federated Hermes Inc. grew its stake in Spectrum Brands by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after purchasing an additional 157 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Spectrum Brands by 58.2% in the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock worth $73,000 after buying an additional 455 shares during the period.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO David M. Maura acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.

Spectrum Brands Trading Down 2.2%

NYSE:SPB opened at $88.51 on Thursday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $91.42. The firm has a 50 day moving average of $83.85 and a 200 day moving average of $78.04. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 2.84 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s payout ratio is 35.88%.

Spectrum Brands 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.