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 $2.3 Million after selling 15,000 shares in Spectrum Brands Holdings , the firm said in a disclosure report filed with the SEC on May 13, 2016.Spectrum Brands Holdings makes up approximately 5.74% of Mpam Credit Trading Partners’s portfolio.

Other Hedge Funds, Including , London Co Of Virginia boosted its stake in SPB in the latest quarter, The investment management firm added 141,665 additional shares and now holds a total of 556,773 shares of Spectrum Brands Holdings which is valued at $65.2 Million. Spectrum Brands Holdings makes up approx 0.54% of London Co Of Virginia’s portfolio.Ubs Asset Management Americas Inc reduced its stake in SPB by selling 2,887 shares or 13.49% in the most recent quarter. The Hedge Fund company now holds 18,519 shares of SPB which is valued at $2.2 Million.Teachers Advisors Inc reduced its stake in SPB by selling 3,137 shares or 13.65% in the most recent quarter. The Hedge Fund company now holds 19,852 shares of SPB which is valued at $2.3 Million.Public Employees Retirement Association Of Colorado reduced its stake in SPB by selling 1 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 811 shares of SPB which is valued at $92,130.

Spectrum Brands Holdings closed down -0.04 points or -0.03% at $117.26 with 2,25,890 shares getting traded on Wednesday. Post opening the session at $117.45, the shares hit an intraday low of $117.04 and an intraday high of $118.18 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Spectrum Brands Holdings reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.92. The company had revenue of $1209.60 million for the quarter, compared to analysts expectations of $1189.97 million. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on Spectrum Brands Holdings. Company shares were Reiterated by Monness Crespi & Hardt on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $114 .

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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