Pzena Investment Management LLC Sells 176,090 Shares of Spectrum Brands Holdings Inc. $SPB

Pzena Investment Management LLC reduced its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB) by 7.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,244,718 shares of the company’s stock after selling 176,090 shares during the period. Pzena Investment Management LLC owned about 0.10% of Spectrum Brands worth $178,478,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in shares of Spectrum Brands in the 2nd quarter valued at about $27,000. Allworth Financial LP purchased a new position in Spectrum Brands in the second quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new position in Spectrum Brands in the second quarter worth about $70,000. Nykredit A S bought a new stake in Spectrum Brands during the second quarter worth approximately $102,000. Finally, Signaturefd LLC increased its stake in Spectrum Brands by 115.9% during the third quarter. Signaturefd LLC now owns 1,300 shares of the company’s stock worth $103,000 after acquiring an additional 698 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada downgraded Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Oppenheimer lifted their target price on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Wells Fargo & Company cut their target price on Spectrum Brands from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $96.00 price target on shares of Spectrum Brands in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.86.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $91.45 on Thursday. The stock’s fifty day moving average is $82.97 and its two-hundred day moving average is $80.68. The company has a market capitalization of $2.10 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 3.04 and a beta of 0.81. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Spectrum Brands Holdings Inc. has a 52 week low of $51.41 and a 52 week high of $99.06.

Spectrum Brands (NYSE:SPB) last released its earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. The business had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter last year, the firm posted $1.24 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that Spectrum Brands Holdings Inc. will post 6.39 earnings per share for the current year.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company that develops, markets and distributes branded products for households and pets. The company sells its products through retailers, e-commerce channels and other distribution partners in the United States and international markets.

Spectrum Brands’ Home and Personal Care portfolio includes small household appliances, personal-care products and related accessories sold under brands such as Remington, Russell Hobbs, George Foreman and Farberware.