Spectrum Brands Holdings Inc. $SPB Shares Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC boosted its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Spectrum Brands were worth $23,584,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SPB. ProShare Advisors LLC raised its stake in shares of Spectrum Brands by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after acquiring an additional 140 shares during the period. Federated Hermes Inc. boosted its position in shares of Spectrum Brands by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after purchasing an additional 157 shares during the period. Nomura Asset Management Co. Ltd. boosted 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 worth $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC increased its holdings in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares during the last quarter. Finally, CWM LLC increased its holdings in Spectrum Brands by 58.2% in the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock valued at $73,000 after purchasing an additional 455 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO David M. Maura purchased 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on SPB. Canaccord Genuity Group decreased their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Wells Fargo & Company raised their target price on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Spectrum Brands Stock Down 1.1%

Shares of NYSE:SPB traded down $0.89 during trading on Friday, hitting $83.19. The company’s stock had a trading volume of 276,360 shares, compared to its average volume of 369,156. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $88.14. The business has a 50 day moving average price of $81.52 and a two-hundred day moving average price of $75.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The company has a market capitalization of $1.91 billion, a PE ratio of 15.88, a P/E/G ratio of 2.64 and a beta of 0.64.

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

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.3%. Spectrum Brands’s dividend payout ratio is 35.88%.

Spectrum Brands 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.