Macquarie Group Ltd. lessened its stake in shares of Spectrum Brands, Inc. (NYSE:SPB) by 63.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,300 shares of the company’s stock after selling 2,300 shares during the quarter. Macquarie Group Ltd.’s holdings in Spectrum Brands were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in SPB. SG Americas Securities LLC acquired a new position in Spectrum Brands during the first quarter valued at approximately $112,000. Point72 Asia Hong Kong Ltd acquired a new position in Spectrum Brands during the first quarter valued at approximately $162,000. Ostrum Asset Management acquired a new position in Spectrum Brands during the first quarter valued at approximately $245,000. Laurion Capital Management LP acquired a new position in Spectrum Brands during the second quarter valued at approximately $269,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Spectrum Brands during the second quarter valued at approximately $307,000.
SPB opened at $68.00 on Friday. Spectrum Brands, Inc. has a 1-year low of $58.88 and a 1-year high of $119.94. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.14 and a quick ratio of 2.68. The company has a market capitalization of $3.99 billion, a PE ratio of -109.63 and a beta of 1.64.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 26th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.21. Spectrum Brands had a negative return on equity of 4.00% and a net margin of 22.32%. The company had revenue of $945.50 million during the quarter, compared to analysts’ expectations of $900.23 million. During the same period in the prior year, the business earned $1.71 earnings per share. Spectrum Brands’s revenue for the quarter was down 27.5% compared to the same quarter last year. As a group, sell-side analysts predict that Spectrum Brands, Inc. will post 3.52 EPS for the current year.
Several brokerages have commented on SPB. Gabelli reiterated a “buy” rating on shares of Spectrum Brands in a report on Friday, July 27th. ValuEngine upgraded Spectrum Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 27th. TheStreet upgraded Spectrum Brands from a “d” rating to a “c-” rating in a report on Monday, July 16th. Zacks Investment Research downgraded Spectrum Brands from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, Bank of America began coverage on Spectrum Brands in a research report on Friday, July 20th. They issued a “neutral” rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $121.82.
Spectrum Brands Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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