Allianz Asset Management GmbH Purchases 16,346 Shares of Spectrum Brands Holdings Inc. $SPB

Allianz Asset Management GmbH raised its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,487 shares of the company’s stock after purchasing an additional 16,346 shares during the period. Allianz Asset Management GmbH owned approximately 0.25% of Spectrum Brands worth $3,206,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Pzena Investment Management LLC increased its stake in Spectrum Brands by 10.5% in the second quarter. Pzena Investment Management LLC now owns 1,474,451 shares of the company’s stock valued at $78,146,000 after purchasing an additional 140,418 shares in the last quarter. American Century Companies Inc. increased its stake in Spectrum Brands by 7.5% in the first quarter. American Century Companies Inc. now owns 1,319,420 shares of the company’s stock valued at $94,405,000 after purchasing an additional 92,418 shares in the last quarter. Alberta Investment Management Corp increased its stake in Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company’s stock valued at $53,665,000 after purchasing an additional 186,729 shares in the last quarter. Callodine Capital Management LP increased its stake in Spectrum Brands by 38.4% in the first quarter. Callodine Capital Management LP now owns 730,000 shares of the company’s stock valued at $52,232,000 after purchasing an additional 202,500 shares in the last quarter. Finally, Armistice Capital LLC increased its position in shares of Spectrum Brands by 20.0% during the first quarter. Armistice Capital LLC now owns 691,000 shares of the company’s stock worth $49,441,000 after acquiring an additional 115,143 shares in the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the subject of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Spectrum Brands in a research report on Friday. Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Canaccord Genuity Group lowered their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Spectrum Brands Stock Up 0.8%

Spectrum Brands stock opened at $55.71 on Friday. The company has a market cap of $1.35 billion, a P/E ratio of 20.79 and a beta of 0.81. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $96.62. The company has a fifty day simple moving average of $54.08 and a 200 day simple moving average of $56.66. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). The business had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. Research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 3.4%. Spectrum Brands’s dividend payout ratio (DPR) is 70.15%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.