Rainier Investment Management buys $21,119,632 stake in Spectrum Brands Holdings (SPB)

Spectrum Brands Holdings (SPB) : Rainier Investment Management scooped up 32,480 additional shares in Spectrum Brands Holdings during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 160,240 shares of Spectrum Brands Holdings which is valued at $21,119,632.Spectrum Brands Holdings makes up approximately 0.98% of Rainier Investment Management’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild boosted its stake in SPB in the latest quarter, The investment management firm added 381 additional shares and now holds a total of 1,281 shares of Spectrum Brands Holdings which is valued at $168,836. Spectrum Brands Holdings makes up approx 0.03% of Bronfman E.l. Rothschild’s portfolio.Ubs Asset Management Americas Inc boosted its stake in SPB in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 19,219 shares of Spectrum Brands Holdings which is valued at $2,541,713. Rothschild Asset Management Inc added SPB to its portfolio by purchasing 3,314 company shares during the most recent quarter which is valued at $425,021. Spectrum Brands Holdings makes up approx 0.01% of Rothschild Asset Management Inc’s portfolio.Monarch Partners Asset Management boosted its stake in SPB in the latest quarter, The investment management firm added 99,815 additional shares and now holds a total of 138,604 shares of Spectrum Brands Holdings which is valued at $16,424,574. Spectrum Brands Holdings makes up approx 1.60% of Monarch Partners Asset Management’s portfolio.

Spectrum Brands Holdings closed down -2.15 points or -1.60% at $132.39 with 303,710 shares getting traded on Wednesday. Post opening the session at $134.57, the shares hit an intraday low of $132.1 and an intraday high of $134.8 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 $1.73 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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