Manning & Napier Advisors LLC raised its position in Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) by 6.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 320,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Manning & Napier Advisors LLC owned 1.38% of Spectrum Brands worth $23,584,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Northwestern Mutual Wealth Management Co. raised its position in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after acquiring an additional 335 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Spectrum Brands during the 2nd quarter valued at about $41,000. Finally, Quarry LP purchased a new stake in Spectrum Brands during the 3rd quarter valued at about $51,000.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Wells Fargo & Company increased their price target on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.
Spectrum Brands Trading Down 1.1%
Spectrum Brands stock traded down $0.89 during midday trading on Friday, hitting $83.19. 276,360 shares of the stock were exchanged, compared to its average volume of 369,156. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $81.52 and its 200 day simple moving average is $75.40. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $88.14. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.64 and a beta of 0.64.
Spectrum Brands (NYSE:SPB – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.
Spectrum Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio is presently 35.88%.
Insider Transactions at Spectrum Brands
In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by company insiders.
About Spectrum Brands
Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.
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