Advisory Services Network LLC boosted its holdings in Spectrum Brands Holdings Inc (NYSE:SPB) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,542 shares of the company’s stock after purchasing an additional 1,052 shares during the period. Advisory Services Network LLC’s holdings in Spectrum Brands were worth $577,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Moerus Capital Management LLC increased its stake in shares of Spectrum Brands by 29.2% in the first quarter. Moerus Capital Management LLC now owns 637,688 shares of the company’s stock worth $34,933,000 after purchasing an additional 144,053 shares in the last quarter. CNA Financial Corp purchased a new stake in shares of Spectrum Brands in the first quarter worth $878,000. Kennedy Capital Management Inc. increased its stake in shares of Spectrum Brands by 99.2% in the first quarter. Kennedy Capital Management Inc. now owns 101,305 shares of the company’s stock worth $5,549,000 after purchasing an additional 50,442 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Spectrum Brands in the first quarter worth $329,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Spectrum Brands by 3.3% in the first quarter. Pinnacle Associates Ltd. now owns 5,310 shares of the company’s stock worth $291,000 after purchasing an additional 170 shares in the last quarter.
SPB traded up $1.53 on Friday, reaching $51.54. 438,765 shares of the company traded hands, compared to its average volume of 419,032. The company has a current ratio of 1.60, a quick ratio of 0.82 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $2.51 billion, a P/E ratio of 14.56, a P/E/G ratio of 8.51 and a beta of 1.84. The firm has a fifty day moving average price of $55.82. Spectrum Brands Holdings Inc has a one year low of $40.54 and a one year high of $92.72.
Several equities analysts recently weighed in on the stock. Wells Fargo & Co reaffirmed a “hold” rating and set a $11.00 target price on shares of Coty in a research note on Wednesday, May 8th. Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reissued a “hold” rating and issued a $0.35 price objective on shares of DB Commodity Double Short ETN in a research note on Friday. Monness Crespi & Hardt reissued a “buy” rating and issued a $77.00 price objective (up from $64.00) on shares of Spectrum Brands in a research note on Thursday, May 9th. Finally, Deutsche Bank restated a “hold” rating on shares of AIB Group in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Spectrum Brands has a consensus rating of “Hold” and a consensus price target of $57.39.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
Further Reading: Golden Cross
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