Pullen Investment Management LLC Grows Stock Position in Spectrum Brands Holdings Inc. $SPB

Pullen Investment Management LLC grew its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 189.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,735 shares of the company’s stock after acquiring an additional 23,374 shares during the quarter. Spectrum Brands comprises 1.1% of Pullen Investment Management LLC’s holdings, making the stock its 29th largest position. Pullen Investment Management LLC owned 0.15% of Spectrum Brands worth $1,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Spectrum Brands by 120.3% in the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Blue Trust Inc. lifted its position in Spectrum Brands by 44.8% during the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after buying an additional 328 shares in the last quarter. MQS Management LLC lifted its position in Spectrum Brands by 13.6% during the second quarter. MQS Management LLC now owns 5,365 shares of the company’s stock worth $284,000 after buying an additional 642 shares in the last quarter. Humankind Investments LLC lifted its position in Spectrum Brands by 13.9% during the first quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after buying an additional 710 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Spectrum Brands by 14.9% during the first quarter. Cerity Partners LLC now owns 6,486 shares of the company’s stock worth $464,000 after buying an additional 841 shares in the last quarter.

Spectrum Brands Trading Up 0.8%

Shares of NYSE SPB opened at $55.71 on Friday. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $96.62. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $54.08 and a 200-day simple moving average of $56.65. The stock has a market capitalization of $1.35 billion, a PE ratio of 20.79 and a beta of 0.81.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data 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). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th were paid 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 dividend yield of 3.4%. Spectrum Brands’s payout ratio is presently 70.15%.

Wall Street Analysts Forecast Growth

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

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.