Mpam Credit Trading Partners Lowers stake in Spectrum Brands Holdings (SPB)

Spectrum Brands Holdings (SPB) : Mpam Credit Trading Partners reduced its stake in Spectrum Brands Holdings by 42.86% during the most recent quarter end. The investment management company now holds a total of 20,000 shares of Spectrum Brands Holdings which is valued at $2,636,000 after selling 15,000 shares in Spectrum Brands Holdings , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Spectrum Brands Holdings makes up approximately 6.02% of Mpam Credit Trading Partners’s portfolio.

Other Hedge Funds, Including , Js Capital Management reduced its stake in SPB by selling 25,550 shares or 63.88% in the most recent quarter. The Hedge Fund company now holds 14,450 shares of SPB which is valued at $1,904,510. Spectrum Brands Holdings makes up approx 1.08% of Js Capital Management’s portfolio.Eagle Asset Management Inc reduced its stake in SPB by selling 1,154 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 33,041 shares of SPB which is valued at $3,893,882. Spectrum Brands Holdings makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.

Spectrum Brands Holdings closed down -0.74 points or -0.55% at $133.46 with 3,37,109 shares getting traded on Thursday. Post opening the session at $134.7, the shares hit an intraday low of $132.99 and an intraday high of $135.18 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Piper Jaffray Initiated Spectrum Brands Holdings on Sep 1, 2016 to “Overweight”, Price Target of the shares are set at $147.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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