Allianz Asset Management GmbH Has $3.21 Million Position in Spectrum Brands Holdings Inc. $SPB

Allianz Asset Management GmbH raised its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 37.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,487 shares of the company’s stock after acquiring an additional 16,346 shares during the quarter. Allianz Asset Management GmbH’s holdings in Spectrum Brands were worth $3,206,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after buying an additional 328 shares during the last quarter. Humankind Investments LLC lifted its stake in shares of Spectrum Brands by 13.9% during the 1st quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after buying an additional 710 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Spectrum Brands by 14.9% during the 1st quarter. Cerity Partners LLC now owns 6,486 shares of the company’s stock worth $464,000 after buying an additional 841 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Spectrum Brands by 1.4% in the 1st quarter. Invesco Ltd. now owns 83,110 shares of the company’s stock worth $5,947,000 after purchasing an additional 1,122 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Canaccord Genuity Group dropped their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a research note on Friday. Finally, Wall Street Zen cut shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Spectrum Brands Price Performance

SPB stock opened at $55.71 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $96.62. The firm has a market cap of $1.35 billion, a P/E ratio of 20.79 and a beta of 0.81. The company’s 50-day moving average price is $54.08 and its two-hundred day moving average price is $56.66.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. During the same period in the prior year, the business earned $1.13 earnings per share. Spectrum Brands’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 70.15%.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.