Great Lakes Advisors LLC Purchases New Position in Spectrum Brands Holdings Inc. $SPB

Great Lakes Advisors LLC purchased a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 69,239 shares of the company’s stock, valued at approximately $5,937,000. Great Lakes Advisors LLC owned about 0.30% of Spectrum Brands at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Spectrum Brands during the second quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $31,000 after acquiring an additional 579 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Spectrum Brands during the 2nd quarter valued at $41,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPB. Oppenheimer upped their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Royal Bank Of Canada cut shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Canaccord Genuity Group raised their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Three equities 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 presently has an average rating of “Hold” and a consensus target price of $98.83.

Spectrum Brands Price Performance

SPB opened at $88.92 on Thursday. The stock has a fifty day simple moving average of $86.70 and a two-hundred day simple moving average of $80.71. 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 company has a market cap of $2.05 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $99.06.

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

Spectrum Brands Announces Dividend

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 paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands’s payout ratio is presently 57.32%.

Spectrum Brands Company 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.