Sei Investments Co. Raises Stock Position in Spectrum Brands Holdings Inc. $SPB

Sei Investments Co. boosted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 127.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,706 shares of the company’s stock after purchasing an additional 51,979 shares during the period. Sei Investments Co.’s holdings in Spectrum Brands were worth $6,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPB. ProShare Advisors LLC raised its stake in shares of Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after buying an additional 140 shares during the last quarter. Federated Hermes Inc. grew its holdings in Spectrum Brands by 1.3% during the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after acquiring an additional 157 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares in the last quarter. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter. Finally, CWM LLC lifted its holdings in Spectrum Brands by 58.2% in the fourth quarter. CWM LLC now owns 1,237 shares of the company’s stock valued at $73,000 after acquiring an additional 455 shares during the period.

Spectrum Brands Trading Up 0.0%

Shares of NYSE:SPB opened at $88.80 on Tuesday. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $91.42. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The business’s 50 day moving average price is $84.53 and its 200-day moving average price is $78.57.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Spectrum Brands Company Profile

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.