American Financial Group Inc reduced its stake in Spectrum Brands Holdings (NYSE: SPB – Get Rating) by 68.3% in the fourth quarter, according to the latest Form 13F filed with the Securities and Exchange Commission. The institutional investor held 74,411 shares in the company after selling 160,000 shares during the quarter. Spectrum Brands accounts for about 1.5% of American Financial Group’s portfolio, making it its 19th largest holding. American Financial Group owned about 0.18% of the Spectrum brand at the end of the most recent quarter, worth $4.533 million.
Many other large investors have also changed their holdings in the company. Captrust Financial Advisors upped his position in Spectrum Brands stock by 31.7% in the first quarter. Captrust Financial Advisors purchased an additional 121 shares last quarter and now owns 503 shares of the company, valued at $45,000. The North Carolina Treasury Secretary increased its stake in Spectrum Brands by 1.3% in the third quarter. The North Carolina Treasurer acquired 220 more shares last quarter and now owns 17,071 shares in the company worth $666,000. Ensign Peak Advisors Inc increased his stake in Spectrum Brands by 8.8% in the third quarter. Ensign Peak Advisors Inc acquired an additional 260 shares last quarter and now owns 3,210 shares of the company stock valued at $125,000. Gabelli Funds LLC increased its stake in Spectrum Brands by 2.0% in the first quarter. Gabelli Funds LLC acquired an additional 300 shares last quarter and now owns 15,350 shares of the company, valued at $1,362,000. Finally, Rockefeller Capital Management LP increased its stake in Spectrum Brands by 25.9% in the third quarter. Rockefeller Capital Management LP acquired an additional 327 shares last quarter and now owns 1,590 shares of the company at a value of $62,000. Hedge funds and other institutional investors own 95.33% of the company’s shares.
Insider trading at Spectrum Brands
In other news, CEO David M. Maura purchased 5,000 shares of the company’s stock in a transaction that took place on Monday, May 22nd. The shares were purchased at his average price per share of $72.13, giving him a total of $360,650.00. Post-acquisition, the CEO now owns 673,816 shares in the company, valued at approximately $48,602,348.08. The acquisition was disclosed in documents filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. Corporate insiders own 2.30% of the company’s shares.
Analyst Rating Change
Several analysts recently commented on the stock. Canaccord Genuity Group undertook coverage of Spectrum Brands shares in a report on Thursday, March 30. They rated the stock as Buy with a price target of $82.00. Deutsche Bank Actienselschaft raised its target price for Spectrum Brands shares from $69.00 to $80.00 in a report on Monday, May 8. Wolfe Research began coverage of Spectrum Brands shares in a report on Thursday, March 30. They set a “market performance” rating for a stock. StockNews.com began coverage of Spectrum Brands shares in a research report on Thursday, May 18. They set a “sell” rating on the stock. Finally, UBS Group raised its price target on Spectrum Brands shares from $84.00 to $87.00, giving the company a Buy rating in its research report on Friday, March 31. One analyst gave the stock a “sell” rating, three analysts gave it a “hold” rating, and six analysts gave it a “buy” rating. According to MarketBeat.com data, the consensus rating for the stock is currently “Moderate Buy” with a Consensus Price Target of $82.86.
Spectrum brand price performance
NYSE:SPB stock rose $1.27 to $73.79 in Friday noon trading. 266,560 shares were exchanged for an average turnover of 716,269 shares. The stock has a market cap of $3.03 billion, a P/E of -109.91 and a beta of 1.40. The company’s current ratio is 2.70x, quick ratio is 2.20x, and debt-to-equity ratio is 2.67x. Spectrum Brands Holdings Ltd. hit a 12-month low of $38.93 and a 12-month high of $89.30. The company has a 50-day moving average price of $68.49 and a 200-day moving average price of $63.32.
Spectrum Brands Dividend Announcement
The company also recently announced a quarterly dividend to be paid on Thursday, June 8. The shareholder of record on Tuesday, May 23, will be paid a dividend of $0.42 per share. This equates to an annual dividend of $1.68 and a dividend yield of 2.28%. The ex-dividend date is Monday, May 22nd. Spectrum Brands’ dividend payout ratio (DPR) is currently -254.55%.
Spectrum brand company profile
Spectrum Brands Holdings, Inc. manufactures residential locksets, homebuilder hardware, plumbing, shaving and grooming products, personal care products, small appliances, specialty pet products, lawn, garden and home pest control products, and Engaged in manufacturing and supplying personal products. Insect repellent.
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