LSV Asset Management Has $32.20 Million Stock Position in Spectrum Brands Holdings Inc. $SPB

LSV Asset Management lessened its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 607,480 shares of the company’s stock after selling 54,995 shares during the quarter. LSV Asset Management owned approximately 2.48% of Spectrum Brands worth $32,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Spectrum Brands by 120.3% during the second 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. grew its position in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after acquiring an additional 328 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares during the last quarter. Quarry LP bought a new stake in shares of Spectrum Brands in the 1st quarter valued at about $157,000. Finally, Amundi acquired a new stake in Spectrum Brands in the 1st quarter valued at about $176,000.

Spectrum Brands Stock Performance

NYSE SPB opened at $54.37 on Wednesday. The firm has a 50-day moving average price of $53.67 and a two-hundred day moving average price of $55.75. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $96.62. The company has a market capitalization of $1.32 billion, a P/E ratio of 13.73 and a beta of 0.82. 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 (NYSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. The company had revenue of $733.50 million during the quarter, compared to the consensus estimate of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.27%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. Analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 24th. Spectrum Brands’s dividend payout ratio is presently 47.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Canaccord Genuity Group boosted their price target on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their target price on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a report on Thursday, November 13th. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Spectrum Brands has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.