California Public Employees Retirement System reduced its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,500 shares of the company’s stock after selling 9,900 shares during the quarter. California Public Employees Retirement System owned about 0.07% of Spectrum Brands Holdings worth $5,314,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Citigroup Inc. raised its position in Spectrum Brands Holdings by 1,203.8% in the second quarter. Citigroup Inc. now owns 68,229 shares of the company’s stock worth $8,532,000 after acquiring an additional 62,996 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Spectrum Brands Holdings by 7.4% in the second quarter. UBS Asset Management Americas Inc. now owns 116,008 shares of the company’s stock worth $14,506,000 after acquiring an additional 7,944 shares in the last quarter. Laurion Capital Management LP bought a new stake in Spectrum Brands Holdings in the second quarter worth about $363,000. Stevens Capital Management LP raised its position in Spectrum Brands Holdings by 188.3% in the second quarter. Stevens Capital Management LP now owns 33,974 shares of the company’s stock worth $4,248,000 after acquiring an additional 22,191 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its position in Spectrum Brands Holdings by 341.6% in the second quarter. BlueMountain Capital Management LLC now owns 10,183 shares of the company’s stock worth $1,273,000 after acquiring an additional 7,877 shares in the last quarter. Institutional investors and hedge funds own 46.50% of the company’s stock.
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Spectrum Brands Holdings, Inc. (SPB) traded down 0.99% during trading on Friday, reaching $107.36. The company’s stock had a trading volume of 82,772 shares. The firm has a market cap of $6.23 billion, a P/E ratio of 21.98 and a beta of 0.65. Spectrum Brands Holdings, Inc. has a 52 week low of $101.93 and a 52 week high of $146.09. The stock’s 50 day moving average is $105.79 and its 200-day moving average is $120.51.
Spectrum Brands Holdings (NYSE:SPB) last posted its earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.21). The company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post $5.57 earnings per share for the current fiscal year.
Several brokerages have commented on SPB. Zacks Investment Research upgraded shares of Spectrum Brands Holdings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. KeyCorp set a $130.00 price target on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Monday, October 16th. Canaccord Genuity reissued a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, September 28th. Royal Bank Of Canada set a $155.00 price target on Spectrum Brands Holdings and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub raised Spectrum Brands Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Spectrum Brands Holdings presently has a consensus rating of “Buy” and a consensus target price of $142.29.
About Spectrum Brands Holdings
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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