The Manufacturers Life Insurance Company Buys Shares of 9,127 Spectrum Brands Holdings Inc. $SPB

The Manufacturers Life Insurance Company purchased a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,127 shares of the company’s stock, valued at approximately $783,000.

Other large investors have also made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in Spectrum Brands by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock worth $279,000 after buying an additional 140 shares in the last quarter. Federated Hermes Inc. increased its holdings in Spectrum Brands by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock valued at $712,000 after buying an additional 157 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position 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 acquiring an additional 310 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at approximately $27,000. Finally, Farther Finance Advisors LLC boosted 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 worth $38,000 after acquiring an additional 335 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $96.00 price objective on shares of Spectrum Brands in a research note on Monday, August 10th. Canaccord Genuity Group boosted their target price on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Oppenheimer upped their target price on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Monness Crespi & Hardt boosted their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.83.

Spectrum Brands Price Performance

SPB opened at $88.70 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06. The company has a 50 day moving average of $87.60 and a two-hundred day moving average of $81.99. The company has a market cap of $2.04 billion, a P/E ratio of 27.04, a P/E/G ratio of 2.79 and a beta of 0.65.

Spectrum Brands (NYSE:SPB) last issued 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. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands’s dividend 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.