SeaBridge Investment Advisors LLC Increases Stake in Spectrum Brands Holdings Inc (SPB)

SeaBridge Investment Advisors LLC lifted its holdings in Spectrum Brands Holdings Inc (NYSE:SPB) by 19.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,287 shares of the company’s stock after purchasing an additional 2,970 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Spectrum Brands were worth $1,366,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its position in shares of Spectrum Brands by 82.2% in the third quarter. Xact Kapitalforvaltning AB now owns 6,743 shares of the company’s stock worth $504,000 after purchasing an additional 3,043 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Spectrum Brands in the third quarter worth $2,889,000. Aperio Group LLC lifted its position in shares of Spectrum Brands by 66.2% in the third quarter. Aperio Group LLC now owns 15,472 shares of the company’s stock worth $1,156,000 after purchasing an additional 6,165 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Spectrum Brands in the third quarter worth $140,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of Spectrum Brands in the third quarter worth $224,000.

NYSE SPB opened at $66.11 on Friday. The company has a current ratio of 3.14, a quick ratio of 2.68 and a debt-to-equity ratio of 3.07. Spectrum Brands Holdings Inc has a 1 year low of $58.88 and a 1 year high of $119.94.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, July 26th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.21. Spectrum Brands had a net margin of 22.32% and a negative return on equity of 4.00%. The firm had revenue of $945.50 million for the quarter, compared to analyst estimates of $900.23 million. During the same period in the prior year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was down 27.5% compared to the same quarter last year. Equities analysts expect that Spectrum Brands Holdings Inc will post 3.46 earnings per share for the current fiscal year.

SPB has been the topic of a number of research reports. Zacks Investment Research raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Tuesday, September 25th. Bank of America cut their price objective on shares of Spectrum Brands from $91.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, October 4th. TheStreet raised shares of Spectrum Brands from a “c” rating to a “b-” rating in a research report on Monday, August 20th. Wells Fargo & Co cut their price objective on shares of Spectrum Brands from $85.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, ValuEngine raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Spectrum Brands currently has an average rating of “Buy” and a consensus price target of $118.45.

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

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