Sumitomo Mitsui Asset Management Company LTD held its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the second quarter, Holdings Channel reports. The firm owned 2,270 shares of the company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Spectrum Brands Holdings were worth $283,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Spectrum Brands Holdings during the second quarter valued at $100,000. Invictus RG acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $156,000. TD Asset Management Inc. acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $211,000. Cypress Asset Management Inc. TX acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $217,000. Finally, ARP Americas LLC acquired a new stake in Spectrum Brands Holdings during the first quarter valued at $220,000. Institutional investors and hedge funds own 48.15% of the company’s stock.

Spectrum Brands Holdings, Inc. (NYSE:SPB) opened at 110.48 on Friday. The stock’s 50 day moving average price is $120.32 and its 200 day moving average price is $131.66. Spectrum Brands Holdings, Inc. has a 52 week low of $108.30 and a 52 week high of $146.09. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 22.62 and a beta of 0.66.

Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by $0.21. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. On average, analysts forecast that Spectrum Brands Holdings, Inc. will post $5.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be issued a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.52%. Spectrum Brands Holdings’s payout ratio is currently 34.29%.

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SPB has been the topic of several research reports. Jefferies Group LLC set a $143.00 price target on Spectrum Brands Holdings and gave the company a “buy” rating in a research note on Saturday, July 29th. BMO Capital Markets cut their price target on Spectrum Brands Holdings from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Royal Bank Of Canada set a $155.00 price target on Spectrum Brands Holdings and gave the company a “buy” rating in a research note on Friday, July 28th. Wells Fargo & Company restated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 27th. Finally, Deutsche Bank AG restated a “buy” rating and set a $131.00 price target (down previously from $149.00) on shares of Spectrum Brands Holdings in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Spectrum Brands Holdings presently has an average rating of “Buy” and an average target price of $143.88.

About Spectrum Brands Holdings

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

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Institutional Ownership by Quarter for Spectrum Brands Holdings (NYSE:SPB)

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