Rice Hall James & Associates LLC Takes $2.23 Million Position in Spectrum Brands Holdings Inc. $SPB

Rice Hall James & Associates LLC bought a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the 2nd quarter, Holdings Channel.com reports. The firm bought 25,999 shares of the company’s stock, valued at approximately $2,229,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Spectrum Brands in the 2nd quarter valued at $27,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the period. Farther Finance Advisors LLC boosted its position 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 buying an additional 335 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands in the second quarter valued at about $41,000.

Analyst Upgrades and Downgrades

SPB has been the topic of several recent research reports. Oppenheimer boosted their price target on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings downgraded shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.83.

Spectrum Brands Trading Up 0.2%

NYSE:SPB opened at $88.02 on Wednesday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $99.06. 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 business’s 50-day simple moving average is $86.55 and its 200 day simple moving average is $80.54.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The firm had revenue of $753.30 million during the quarter, compared to analyst estimates of $732.19 million. During the same quarter last year, the firm earned $1.24 EPS. Spectrum Brands’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

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