Man Group plc Takes Position in Spectrum Brands Holdings Inc. $SPB

Man Group plc purchased a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 229,822 shares of the company’s stock, valued at approximately $19,707,000.

Several other large investors also recently added to or reduced their stakes in SPB. Global Retirement Partners LLC bought a new position in Spectrum Brands during the second quarter worth about $27,000. Allworth Financial LP bought a new stake in shares of Spectrum Brands in the second quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Spectrum Brands by 7,237.5% in the third 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 during the period. Nomura Asset Management Co. Ltd. lifted its stake 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 buying an additional 310 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares in the last quarter.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $88.60 on Friday. The firm’s 50 day simple moving average is $87.26 and its 200 day simple moving average is $81.50. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.04 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.80 and a beta of 0.63. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $99.06.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, beating 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 the consensus estimate of $732.19 million. During the same period last year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current fiscal 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 given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands’s dividend payout ratio (DPR) is 57.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPB shares. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Weiss Ratings downgraded Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group raised their price target on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price target on Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada lowered Spectrum Brands from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.83.

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.