Wittenberg Investment Management Inc. reduced its stake in Spectrum Brands Holdings Inc (NYSE:SPB) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,165 shares of the company’s stock after selling 7,146 shares during the period. Spectrum Brands accounts for approximately 1.5% of Wittenberg Investment Management Inc.’s holdings, making the stock its 17th biggest position. Wittenberg Investment Management Inc. owned approximately 0.13% of Spectrum Brands worth $3,504,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Citizens Financial Group Inc RI acquired a new stake in shares of Spectrum Brands in the 1st quarter worth approximately $99,000. Great West Life Assurance Co. Can lifted its stake in shares of Spectrum Brands by 76.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,341 shares of the company’s stock worth $256,000 after acquiring an additional 2,753 shares during the period. Pinnacle Associates Ltd. lifted its stake in shares of Spectrum Brands by 3.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 5,310 shares of the company’s stock worth $291,000 after acquiring an additional 170 shares during the period. GAM Holding AG acquired a new stake in shares of Spectrum Brands in the 1st quarter worth approximately $329,000. Finally, New Jersey Better Educational Savings Trust acquired a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $333,000.
SPB stock traded down $2.33 on Friday, hitting $47.60. 565,696 shares of the company’s stock traded hands, compared to its average volume of 321,488. Spectrum Brands Holdings Inc has a 1-year low of $40.54 and a 1-year high of $92.72. The firm has a market cap of $2.44 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 8.34 and a beta of 1.82. The stock’s fifty day moving average is $53.03. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.82 and a current ratio of 1.60.
Spectrum Brands (NYSE:SPB) last released its earnings results on Wednesday, May 8th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.12). Spectrum Brands had a net margin of 24.97% and a return on equity of 6.03%. The business had revenue of $906.70 million for the quarter, compared to analyst estimates of $874.57 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts expect that Spectrum Brands Holdings Inc will post 2.77 EPS for the current year.
Several research firms recently commented on SPB. Wells Fargo & Co reissued a “hold” rating and set a $62.00 target price on shares of Spectrum Brands in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lowered shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 12th. Deutsche Bank increased their target price on shares of Spectrum Brands from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $77.00 target price (up from $64.00) on shares of Spectrum Brands in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.39.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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