Hsbc Holdings PLC Makes New $5.21 Million Investment in Spectrum Brands Holdings Inc. $SPB

Hsbc Holdings PLC bought a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the second quarter, Holdings Channel.com reports. The firm bought 61,157 shares of the company’s stock, valued at approximately $5,208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SPB. Manning & Napier Advisors LLC grew its holdings in Spectrum Brands by 9.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock worth $17,724,000 after acquiring an additional 25,000 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Spectrum Brands by 8.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock worth $20,919,000 after purchasing an additional 28,569 shares during the last quarter. LSV Asset Management lifted its position in shares of Spectrum Brands by 2.9% during the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after purchasing an additional 17,100 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Spectrum Brands in the fourth quarter worth about $6,242,000. Finally, PEAK6 LLC acquired a new position in Spectrum Brands in the second quarter worth about $2,955,000.

Spectrum Brands Price Performance

SPB opened at $88.67 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $87.35 and its 200 day moving average price is $81.55. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.63.

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

Spectrum Brands Announces Dividend

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 is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s payout ratio is currently 57.32%.

Wall Street Analyst Weigh In

SPB has been the topic of several research reports. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Weiss Ratings lowered Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Monness Crespi & Hardt upped their price target on Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $96.00 price objective on shares of Spectrum Brands in a research note on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has a consensus rating of “Hold” and a consensus target price of $98.83.

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.