Cambria Investment Management L.P. Sells 11,642 Shares of Spectrum Brands Holdings Inc. $SPB

Cambria Investment Management L.P. reduced its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,442 shares of the company’s stock after selling 11,642 shares during the quarter. Cambria Investment Management L.P. owned about 0.72% of Spectrum Brands worth $8,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Amundi bought a new stake in Spectrum Brands during the 1st quarter valued at $176,000. Millennium Management LLC boosted its holdings in shares of Spectrum Brands by 64.7% in the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the period. NewEdge Advisors LLC grew its position in shares of Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock valued at $386,000 after purchasing an additional 3,415 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after purchasing an additional 114,143 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Spectrum Brands by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after purchasing an additional 6,321 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPB. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Royal Bank Of Canada set a $85.00 target price on Spectrum Brands in a report on Friday, February 6th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Finally, Oppenheimer raised their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $83.00.

Spectrum Brands Trading Down 3.8%

Shares of SPB stock opened at $72.50 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.21. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $80.42. The company has a market capitalization of $1.68 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64. The business’s fifty day moving average is $71.54 and its 200 day moving average is $61.44.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $0.77 by $0.63. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $667.59 million. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. On average, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.6%. Spectrum Brands’s payout ratio is presently 43.42%.

About Spectrum Brands

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.