On June 11, 2023, a recent filing with the Securities & Exchange Commission revealed that Eminence Capital LP decreased its stake in Spectrum Brands Holdings, Inc. by 47.5% during the fourth quarter. The institutional investor’s ownership of the company now stands at 997,260 shares after selling 903,782 shares during the period. The value of this investment is worth $60,753,000 as of the latest quarterly report.
Even though Eminence Capital LP lowered its stake in Spectrum Brands Holdings Inc., CEO David M. Maura recently acquired 5,000 shares through a stock purchase on May 22nd at an average price of $72.13 per share, totaling $360,650.00 USD. Following this acquisition, Maura now has control over 673,816 shares of the company’s stock and a valuation of approximately $48,602,348.08 USD.
Insiders own 2.30% of Spectrum Brands’ stock despite fluctuating market conditions affecting their activities in buying or selling stocks.
Since Friday’s mid-day trading session saw Spectrum Brands’ shares decrease by $0.75 to trade at $74.00 USD with a trading volume of approximately199,065 shares as compared to its average volume of 709,568 shares; it is vital to note that the manufacturer broke their previous record high operating profitability by posting revenue growth for two consecutive financial quarters.
Furthermore, Spectrum Brands has successfully maintained strong liquidity ratios such as a current ratio of 2.70 and a quick ratio of 2.20 while having a debt-to-equity ratio of 2.67.
With these results in mind from Eminence Capital LP and CEO David M.Maura’s recent transactions and Spectrum Brands’ improving operational efficiency coupled with robust liquidity ratios amidst turbulent business environments creates uncertainty on their equity performance in the future but also opens doors for potential investment opportunities for risk-tolerant investors.
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Spectrum Brands Surges in Investor Confidence: Institutional Ownership Changes Reflect Positive Shift
Spectrum Brands: Institutional Investors Changes in Positions Reflect Investor Confidence
Recent reports of institutional investors and hedge funds ownership changes of Spectrum Brands reflect a positive shift in investor sentiment towards the company, as reported on June 11, 2023. Captrust Financial Advisors raised its position by 31.7%, followed by Treasurer of the State of North Carolina raising theirs by 1.3%. Ensign Peak Advisors Inc also raised their position by 8.8%, while Gabelli Funds LLC raised theirs by 2.0%. Signaturefd LLC, on the other hand, significantly upped their position by 529.7%. Collectively, institutional investors now own a whopping 95.33% of Spectrum Brands’ shares.
These ownership changes are coming at a time when several brokerages have recently issued varied reports on the company’s stock performance. UBS Group raised their price objective on Spectrum Brands from $84 to $87 with a “buy” rating while Wells Fargo & Company lowered their target price on Spectrum Brands from $90 to $85 with a “hold” rating. Meanwhile, Deutsche Bank Aktiengesellschaft lifted their target price from $69 to $80 with a “buy” rating. StockNews.com assumes coverage with a “sell” rating for the company, and Wolfe Research issues a “market perform” rating.
Spectrum Brands has also declared its quarterly dividend paid out to stockholders who were recorded as of Tuesday, May 23rd, reflecting an annualized payout ratio of -$1.68 per share––and an annualized dividend yield ratio of 2.27%.
Institutional investors holding such large fractions of shares implies that they have enough faith in Spectrum Brands’ business operations to invest in it heavily and promote customer confidence in the market confidently.
As financial experts continue analyzing Spectrum Brand’s stock performance over the next few quarters, investors may take stock ownership or sell shares based upon these findings and institutional investors’ performance results.