Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,668 shares of the company’s stock after selling 747 shares during the quarter. Spectrum Brands makes up approximately 1.3% of Phocas Financial Corp.’s portfolio, making the stock its 8th biggest position. Phocas Financial Corp. owned 0.30% of Spectrum Brands worth $9,730,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sachem Head Capital Management LP purchased a new position in shares of Spectrum Brands in the 4th quarter valued at about $64,027,000. Invesco Ltd. lifted its stake in Spectrum Brands by 194.0% during the first quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock worth $134,369,000 after purchasing an additional 999,459 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Spectrum Brands by 48.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,206,827 shares of the company’s stock worth $79,913,000 after purchasing an additional 396,155 shares during the last quarter. Norges Bank purchased a new stake in Spectrum Brands during the fourth quarter worth approximately $22,965,000. Finally, Armistice Capital LLC purchased a new stake in Spectrum Brands during the fourth quarter worth approximately $19,494,000.

Insider Activity

In related news, EVP Ehsan Zargar bought 843 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $82.98 per share, with a total value of $69,952.14. Following the completion of the acquisition, the executive vice president now owns 117,335 shares in the company, valued at approximately $9,736,458.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Spectrum Brands news, CEO David M. Maura acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $79.22 per share, with a total value of $396,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 688,816 shares of the company’s stock, valued at approximately $54,568,003.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ehsan Zargar acquired 843 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $82.98 per share, for a total transaction of $69,952.14. Following the acquisition, the executive vice president now directly owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 15,843 shares of company stock valued at $1,276,452. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPB. Wells Fargo & Company boosted their target price on Spectrum Brands from $85.00 to $90.00 in a research note on Wednesday, June 21st. StockNews.com upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Canaccord Genuity Group boosted their price objective on Spectrum Brands from $87.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Royal Bank of Canada started coverage on Spectrum Brands in a research note on Wednesday, August 23rd. They issued an “outperform” rating and a $96.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus price target of $85.67.

Spectrum Brands Stock Performance

Shares of NYSE:SPB traded up $0.11 during trading on Tuesday, reaching $79.29. The company had a trading volume of 157,000 shares, compared to its average volume of 693,711. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 1.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.23 and a quick ratio of 1.94. The stock’s fifty day moving average price is $79.12 and its 200 day moving average price is $72.79. Spectrum Brands Holdings, Inc. has a fifty-two week low of $38.93 and a fifty-two week high of $85.25.

Spectrum Brands (NYSE:SPB) last released its earnings results on Friday, August 11th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.27. The business had revenue of $735.50 million for the quarter, compared to analyst estimates of $785.39 million. Spectrum Brands had a return on equity of 1.99% and a net margin of 61.47%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 1.34 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 29th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, August 28th. Spectrum Brands’s payout ratio is currently 3.77%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.