Arrowstreet Capital Limited Partnership reduced its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 56.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,700 shares of the company’s stock after selling 14,100 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Spectrum Brands Holdings were worth $1,338,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Spectrum Brands Holdings by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,020,401 shares of the company’s stock valued at $280,856,000 after purchasing an additional 32,915 shares during the period. JPMorgan Chase & Co. increased its position in Spectrum Brands Holdings by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,634,684 shares of the company’s stock valued at $204,401,000 after purchasing an additional 20,242 shares during the period. BlackRock Inc. increased its position in Spectrum Brands Holdings by 5,054.7% during the 1st quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock valued at $168,030,000 after purchasing an additional 1,185,319 shares during the period. Bessemer Group Inc. increased its position in Spectrum Brands Holdings by 18.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,048,499 shares of the company’s stock valued at $131,105,000 after purchasing an additional 161,567 shares during the period. Finally, Schroder Investment Management Group increased its position in Spectrum Brands Holdings by 29.7% during the 2nd quarter. Schroder Investment Management Group now owns 812,903 shares of the company’s stock valued at $101,084,000 after purchasing an additional 186,285 shares during the period. 46.97% of the stock is currently owned by institutional investors and hedge funds.

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A number of research analysts have issued reports on SPB shares. Jefferies Group LLC reissued a “buy” rating and set a $150.00 price objective (down from $165.00) on shares of Spectrum Brands Holdings in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. BidaskClub downgraded shares of Spectrum Brands Holdings from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Wells Fargo & Company reissued a “buy” rating on shares of Spectrum Brands Holdings in a research report on Thursday, July 27th. Finally, BMO Capital Markets reduced their target price on shares of Spectrum Brands Holdings from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $142.29.

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) opened at 110.03 on Friday. The stock has a 50 day moving average of $105.69 and a 200-day moving average of $121.27. Spectrum Brands Holdings, Inc. has a 52-week low of $101.93 and a 52-week high of $146.09. The stock has a market capitalization of $6.39 billion, a P/E ratio of 22.53 and a beta of 0.65.

Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.21). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. Analysts predict that Spectrum Brands Holdings, Inc. will post $5.58 EPS for the current fiscal year.

Spectrum Brands Holdings Company Profile

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

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

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