Great Lakes Advisors LLC Acquires New Stake in Spectrum Brands Holdings Inc. $SPB

Great Lakes Advisors LLC acquired a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) in the second quarter, Holdings Channel reports. The firm acquired 69,239 shares of the company’s stock, valued at approximately $5,937,000.

A number of other large investors have also added to or reduced their stakes in the stock. Pzena Investment Management LLC bought a new stake in Spectrum Brands in the second quarter worth $207,584,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Spectrum Brands by 374,119.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after acquiring an additional 2,196,079 shares in the last quarter. Callodine Capital Management LP raised its position in shares of Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after purchasing an additional 350,261 shares during the last quarter. BlackRock Inc. bought a new position in Spectrum Brands in the 2nd quarter worth about $166,197,000. Finally, LSV Asset Management boosted its stake in Spectrum Brands by 2.9% in the 4th quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after purchasing an additional 17,100 shares in the last quarter.

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Spectrum Brands Price Performance

NYSE SPB opened at $88.92 on Thursday. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $99.06. The stock has a 50-day moving average of $86.70 and a 200 day moving average of $80.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 2.78 and a beta of 0.63.

Spectrum Brands (NYSE:SPB – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $1.33. The business had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. On average, sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands’s payout ratio is presently 57.32%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank Of Canada lowered shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $96.00 price target on shares of Spectrum Brands in a research report on Monday, August 10th. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.83.

View Our Latest Analysis on Spectrum Brands

Spectrum Brands Company Profile

(Free Report)

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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