Maverick Capital Ltd. Boosts Stock Position in Spectrum Brands Holdings Inc. $SPB

Maverick Capital Ltd. grew its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 31.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,826 shares of the company’s stock after purchasing an additional 16,238 shares during the period. Maverick Capital Ltd.’s holdings in Spectrum Brands were worth $4,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in 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 buying an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Spectrum Brands by 96.9% during the 4th 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 last quarter. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the 4th 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 last quarter. Headlands Technologies LLC acquired a new stake in Spectrum Brands during the 2nd quarter valued at approximately $41,000. Finally, Quarry LP acquired a new stake in Spectrum Brands during the 3rd quarter valued at approximately $51,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPB. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Wells Fargo & Company upped their price target on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Finally, Canaccord Genuity Group reduced their price objective on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Stock Performance

SPB opened at $88.97 on Tuesday. The firm has a fifty day moving average price of $83.22 and a 200 day moving average price of $77.67. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $91.42. The stock has a market cap of $2.05 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

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

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. 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 35.88%.

Insider Activity at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.

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.