Legal & General Group Plc bought a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 21,807 shares of the company’s stock, valued at approximately $1,870,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SPB. Global Retirement Partners LLC purchased a new position in shares of Spectrum Brands during the 2nd quarter valued at approximately $27,000. Allworth Financial LP bought a new stake in shares of Spectrum Brands in the 2nd quarter worth about $29,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Spectrum Brands during the second quarter worth about $41,000.
Analyst Ratings Changes
Several analysts have issued reports on SPB shares. Royal Bank Of Canada cut Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Weiss Ratings downgraded Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Oppenheimer lifted their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.83.
Spectrum Brands Trading Up 0.2%
Shares of NYSE:SPB opened at $88.70 on Monday. The company has a market cap of $2.04 billion, a PE ratio of 27.04, a P/E/G ratio of 2.79 and a beta of 0.65. The company’s 50-day moving average price is $87.60 and its 200 day moving average price is $82.03. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.
Spectrum Brands (NYSE:SPB – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $1.46 by $1.33. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The firm had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same quarter in the prior year, the firm earned $1.24 EPS. Spectrum Brands’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.
Spectrum Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, August 25th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands’s dividend payout ratio is 57.32%.
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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