Mitsubishi UFJ Trust & Banking Corp Trims Holdings in South Pacific Resources Ltd (NYSE:SPB)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in South Pacific Resources Ltd (NYSE:SPBGet Rating) by 43.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,259 shares of the company’s stock after selling 2,463 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in South Pacific Resources were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Pinebridge Investments L.P. lifted its holdings in South Pacific Resources by 233.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 333 shares of the company’s stock valued at $27,000 after purchasing an additional 233 shares in the last quarter. Captrust Financial Advisors lifted its holdings in South Pacific Resources by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after purchasing an additional 121 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in South Pacific Resources by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares in the last quarter. American Trust acquired a new position in shares of South Pacific Resources during the 1st quarter valued at about $201,000. Finally, Humankind Investments LLC acquired a new position in shares of South Pacific Resources during the 1st quarter valued at about $205,000.

Analyst Ratings Changes

A number of research firms have recently commented on SPB. Wells Fargo & Company dropped their price objective on shares of South Pacific Resources from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 3rd. TheStreet downgraded shares of South Pacific Resources from a “c-” rating to a “d+” rating in a research note on Monday, October 10th. Oppenheimer dropped their price objective on shares of South Pacific Resources to $67.00 in a research note on Thursday, October 20th. Royal Bank of Canada dropped their price objective on shares of South Pacific Resources from $120.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, August 15th. Finally, StockNews.com began coverage on shares of South Pacific Resources in a research note on Wednesday, October 12th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

South Pacific Resources Stock Up 0.7 %

SPB opened at $48.72 on Wednesday. The firm has a 50 day moving average price of $45.07 and a 200 day moving average price of $65.11. The company has a market cap of $1.99 billion, a PE ratio of 27.84 and a beta of 1.49. South Pacific Resources Ltd has a 1 year low of $38.93 and a 1 year high of $106.91. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.02 and a current ratio of 2.66.

South Pacific Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, November 25th. South Pacific Resources’s dividend payout ratio (DPR) is presently 96.00%.

South Pacific Resources Company Profile

(Get Rating)

Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.

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Institutional Ownership by Quarter for South Pacific Resources (NYSE:SPB)

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