ProShare Advisors LLC Takes Position in Spectrum Brands Holdings Inc. $SPB

ProShare Advisors LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,852 shares of the company’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC boosted its position in 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 acquiring an additional 841 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Spectrum Brands by 162.0% in the first quarter. Victory Capital Management Inc. now owns 60,600 shares of the company’s stock worth $4,336,000 after purchasing an additional 37,467 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Spectrum Brands by 23.0% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,162 shares of the company’s stock worth $2,874,000 after purchasing an additional 7,523 shares during the last quarter. Federated Hermes Inc. grew its position in Spectrum Brands by 10.9% in the first quarter. Federated Hermes Inc. now owns 11,873 shares of the company’s stock valued at $850,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Wealthquest Corp bought a new position in Spectrum Brands in the first quarter valued at $321,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Wells Fargo & Company upped 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. Canaccord Genuity Group increased their price target on Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Wednesday. Finally, Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Spectrum Brands Stock Up 5.7%

SPB opened at $57.44 on Friday. The stock’s fifty day simple moving average is $53.75 and its 200 day simple moving average is $55.68. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $96.62. The stock has a market cap of $1.34 billion, a PE ratio of 14.51 and a beta of 0.82. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $1.84. The firm had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. As a group, research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 24th. Spectrum Brands’s dividend payout ratio is currently 47.47%.

Spectrum Brands Profile

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.