Sanctuary Advisors LLC Takes $842,000 Position in Spectrum Brands Holdings Inc. $SPB

Sanctuary Advisors LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,817 shares of the company’s stock, valued at approximately $842,000.

Several other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in shares of Spectrum Brands during the 2nd quarter valued at $27,000. Allworth Financial LP purchased a new position in Spectrum Brands during the 2nd quarter worth $29,000. Northwestern Mutual Wealth Management Co. grew its stake in Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after buying an additional 310 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares in the last quarter.

Analyst Ratings Changes

SPB has been the subject of several recent analyst reports. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research report on Monday, August 10th. Oppenheimer raised their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Hold” and a consensus target price of $98.83.

Spectrum Brands Stock Up 0.2%

Shares of SPB stock opened at $88.67 on Friday. 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 capitalization of $2.04 billion, a PE ratio of 27.03, a P/E/G ratio of 2.79 and a beta of 0.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The stock’s 50-day simple moving average is $87.35 and its 200-day simple moving average is $81.55.

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 firm had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.Spectrum Brands’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Equities analysts expect that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands’s payout ratio is presently 57.32%.

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.