PEAK6 LLC Invests $2.96 Million in Spectrum Brands Holdings Inc. $SPB

PEAK6 LLC acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 34,457 shares of the company’s stock, valued at approximately $2,955,000.

Several other large investors have also bought and sold shares of the company. Pzena Investment Management LLC acquired a new position in Spectrum Brands during the second quarter worth about $207,584,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after purchasing an additional 2,196,079 shares in the last quarter. Callodine Capital Management LP lifted its stake in Spectrum Brands by 20.4% during the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after purchasing an additional 350,261 shares during the last quarter. BlackRock Inc. bought a new stake in Spectrum Brands during the second quarter worth approximately $166,197,000. Finally, LSV Asset Management grew its position in Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after buying an additional 17,100 shares during the last quarter.

Spectrum Brands Stock Up 0.0%

Shares of Spectrum Brands stock opened at $86.93 on Monday. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $99.06. The company has a market cap of $2.00 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.74 and a beta of 0.63. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $86.82 and a 200 day moving average price of $81.02.

Spectrum Brands (NYSE:SPB) last released its earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.46 by $1.33. The company had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. As a group, analysts expect that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, August 25th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. Spectrum Brands’s payout ratio is presently 57.32%.

Wall Street Analysts Forecast Growth

SPB has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $96.00 price objective on shares of Spectrum Brands in a research note on Monday, August 10th. Royal Bank Of Canada lowered Spectrum Brands from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Wells Fargo & Company lifted their price target on Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group raised their target price on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.83.

About Spectrum Brands

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.