Pzena Investment Management LLC purchased a new position in Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,420,808 shares of the company’s stock, valued at approximately $207,584,000. Pzena Investment Management LLC owned approximately 0.11% of Spectrum Brands at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SPB. Global Retirement Partners LLC purchased a new stake in Spectrum Brands in the 2nd quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Spectrum Brands by 7,237.5% during 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. grew its position in shares of Spectrum Brands by 96.9% during 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. Farther Finance Advisors LLC increased its holdings in shares of Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after purchasing an additional 335 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the second quarter worth $41,000.
Insider Buying and Selling
In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.50% of the stock is owned by insiders.
Analysts Set New Price Targets
View Our Latest Analysis on Spectrum Brands
Spectrum Brands Trading Down 2.8%
NYSE SPB opened at $87.43 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $86.44 and its two-hundred day simple moving average is $80.36. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $99.06. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.84 and a beta of 0.63.
Spectrum Brands (NYSE:SPB – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. The firm had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 EPS. Research analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.
Spectrum Brands Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.2%. Spectrum Brands’s dividend payout ratio is currently 57.32%.
Spectrum Brands Profile
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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