First Eagle Investment Management LLC Decreases Stock Holdings in Spectrum Brands Holdings Inc. $SPB

First Eagle Investment Management LLC lowered its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.4% in the second quarter, HoldingsChannel.com reports. The firm owned 183,372 shares of the company’s stock after selling 16,800 shares during the quarter. First Eagle Investment Management LLC’s holdings in Spectrum Brands were worth $9,719,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after acquiring an additional 328 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Spectrum Brands by 13.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after acquiring an additional 215 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Spectrum Brands during the 1st quarter worth about $118,000. Finally, Quarry LP purchased a new stake in Spectrum Brands during the first quarter worth approximately $157,000.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $54.09 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of 20.18 and a beta of 0.82. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $96.62. The stock has a 50 day moving average of $53.80 and a two-hundred day moving average of $56.22. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The business had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period in the previous year, the firm earned $1.13 earnings per share. The business’s revenue was down 10.2% compared to the same quarter last year. On average, research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Wells Fargo & Company lowered their target price on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.