Northwestern Mutual Wealth Management Co. Grows Position in Spectrum Brands Holdings Inc. $SPB

Northwestern Mutual Wealth Management Co. lifted its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 374,119.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,196,666 shares of the company’s stock after buying an additional 2,196,079 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.09% of Spectrum Brands worth $129,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its holdings in shares of Spectrum Brands by 9.6% in the fourth quarter. First Eagle Investment Management LLC now owns 206,772 shares of the company’s stock worth $12,216,000 after buying an additional 18,100 shares in the last quarter. Manning & Napier Advisors LLC lifted its holdings in shares of Spectrum Brands by 9.1% in the fourth quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock worth $17,724,000 after buying an additional 25,000 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Spectrum Brands in the fourth quarter worth $264,000. Sequoia Financial Advisors LLC bought a new stake in Spectrum Brands in the fourth quarter worth $239,000. Finally, New York State Teachers Retirement System bought a new stake in Spectrum Brands in the fourth quarter worth $129,000.

Spectrum Brands Trading Down 3.7%

Shares of SPB opened at $77.08 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 2.29. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $86.96. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.71, a P/E/G ratio of 2.41 and a beta of 0.67. The company’s fifty day moving average is $78.06 and its 200 day moving average is $68.50.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business had revenue of $708.90 million for the quarter, compared to analysts’ expectations of $676.45 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands’s payout ratio is 35.88%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPB shares. Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a research report on Friday, February 6th. Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wells Fargo & Company boosted their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Canaccord Genuity Group boosted their price target on shares of Spectrum Brands from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.20.

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.