LSV Asset Management Acquires 17,100 Shares of Spectrum Brands Holdings Inc. $SPB

LSV Asset Management raised its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 602,980 shares of the company’s stock after buying an additional 17,100 shares during the quarter. LSV Asset Management’s holdings in Spectrum Brands were worth $35,624,000 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 the business. Pzena Investment Management LLC grew its holdings in shares of Spectrum Brands by 66.8% during the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after acquiring an additional 985,034 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the period. American Century Companies Inc. boosted its position in shares of Spectrum Brands by 14.5% during the third quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock valued at $107,836,000 after purchasing an additional 260,085 shares in the last quarter. Callodine Capital Management LP boosted its position in shares of Spectrum Brands by 26.7% during the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock valued at $90,087,000 after purchasing an additional 360,898 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after purchasing an additional 224,481 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPB. Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Oppenheimer boosted their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, 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. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and an average target price of $86.20.

Insider Activity at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Spectrum Brands Stock Up 0.2%

SPB stock opened at $78.49 on Monday. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $86.96. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.82 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.67. The business has a 50 day moving average of $78.00 and a 200 day moving average of $69.33.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. Spectrum Brands’s dividend payout ratio (DPR) is presently 35.88%.

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.