California Public Employees Retirement System Has $7.50 Million Position in South Pacific Resources Ltd (NYSE:SPB)

California Public Employees Retirement System grew its position in South Pacific Resources Ltd (NYSE:SPBGet Rating) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,472 shares of the company’s stock after buying an additional 861 shares during the quarter. California Public Employees Retirement System’s holdings in South Pacific Resources were worth $7,503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPB. SG Americas Securities LLC grew its holdings in shares of South Pacific Resources by 82.9% during the 1st quarter. SG Americas Securities LLC now owns 7,327 shares of the company’s stock valued at $650,000 after purchasing an additional 3,320 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of South Pacific Resources by 10.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,556 shares of the company’s stock valued at $1,912,000 after purchasing an additional 2,016 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of South Pacific Resources by 14.0% during the 1st quarter. Victory Capital Management Inc. now owns 990,501 shares of the company’s stock valued at $87,859,000 after purchasing an additional 121,814 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of South Pacific Resources by 120.1% during the 1st quarter. New York State Common Retirement Fund now owns 123,802 shares of the company’s stock valued at $10,984,000 after purchasing an additional 67,560 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of South Pacific Resources by 14.6% during the 1st quarter. Royce & Associates LP now owns 476,439 shares of the company’s stock valued at $42,270,000 after purchasing an additional 60,779 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Monness Crespi & Hardt decreased their price target on shares of South Pacific Resources from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of South Pacific Resources from $68.00 to $63.00 in a report on Monday. Royal Bank of Canada reduced their target price on shares of South Pacific Resources from $120.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. Oppenheimer reduced their target price on shares of South Pacific Resources to $67.00 in a report on Thursday, October 20th. Finally, UBS Group reduced their target price on shares of South Pacific Resources from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, South Pacific Resources has an average rating of “Moderate Buy” and an average target price of $77.17.

South Pacific Resources Stock Up 2.3 %

Shares of NYSE SPB opened at $49.86 on Thursday. The company has a market capitalization of $2.03 billion, a P/E ratio of 28.49 and a beta of 1.49. South Pacific Resources Ltd has a 52-week low of $38.93 and a 52-week high of $105.75. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.02 and a current ratio of 2.66. The company’s 50 day moving average price is $44.89 and its 200-day moving average price is $65.01.

South Pacific Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 28th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.37%. South Pacific Resources’s dividend payout ratio (DPR) is currently 96.00%.

South Pacific Resources Company Profile

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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.

See Also

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

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