Cypress Funds Lowers stake in Spectrum Brands Holdings (SPB)

Spectrum Brands Holdings (SPB) : Cypress Funds reduced its stake in Spectrum Brands Holdings by 14.38% during the most recent quarter end. The investment management company now holds a total of 131,000 shares of Spectrum Brands Holdings which is valued at $17,113,840 after selling 22,000 shares in Spectrum Brands Holdings , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Spectrum Brands Holdings makes up approximately 4.76% of Cypress Funds’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in SPB in the latest quarter, The investment management firm added 445 additional shares and now holds a total of 3,717 shares of Spectrum Brands Holdings which is valued at $485,589.California Public Employees Retirement System boosted its stake in SPB in the latest quarter, The investment management firm added 3,100 additional shares and now holds a total of 57,500 shares of Spectrum Brands Holdings which is valued at $7,374,375. Spectrum Brands Holdings makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Diam Ltd. boosted its stake in SPB in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 2,136 shares of Spectrum Brands Holdings which is valued at $273,942. Stoneridge Investment Partners added SPB to its portfolio by purchasing 9,564 company shares during the most recent quarter which is valued at $1,133,334. Spectrum Brands Holdings makes up approx 0.16% of Stoneridge Investment Partners’s portfolio.

Spectrum Brands Holdings opened for trading at $130.09 and hit $131.28 on the upside on Wednesday, eventually ending the session at $131.2, with a gain of 0.68% or 0.88 points. The heightened volatility saw the trading volume jump to 2,06,056 shares. Company has a market cap of $7,794 M.

On the company’s financial health, Spectrum Brands Holdings reported $1.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.69. The company had revenue of $1361.50 million for the quarter, compared to analysts expectations of $1356.86 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS.

Many Wall Street Analysts have commented on Spectrum Brands Holdings. Company shares were Reiterated by Monness Crespi & Hardt on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 138 from a previous price target of $125 .

Spectrum Brands Holdings Inc. (SB Holdings) is a consumer products company. The Company supplies consumer batteries residential locksets residential builder’s hardware plumbing and accessories shaving and grooming products personal care products small household appliances specialty pet supplies lawn and garden and home pest control products personal insect repellents and auto care products. The Company operates in segments which include Global Batteries & Appliances Hardware and Home Improvement Global Pet Supplies Home and Garden and Global Auto Care. The Company manufactures and markets alkaline zinc carbon and hearing aid batteries as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries and electric shavers among others. The Company also offers Armor All STP and A/C PRO brands.

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