Empowered Funds LLC Purchases Shares of 100,953 Spectrum Brands Holdings Inc. $SPB

Empowered Funds LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,953 shares of the company’s stock, valued at approximately $8,657,000. Empowered Funds LLC owned about 0.44% of Spectrum Brands as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC increased its position 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 buying an additional 25,000 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Spectrum Brands by 8.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock valued at $20,919,000 after acquiring an additional 28,569 shares during the period. LSV Asset Management grew its stake in shares of Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after acquiring an additional 17,100 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Spectrum Brands in the fourth quarter valued at about $6,242,000. Finally, PEAK6 LLC bought a new position in Spectrum Brands during the second quarter worth about $2,955,000.

Spectrum Brands Stock Up 0.2%

NYSE SPB opened at $88.67 on Friday. The business has a fifty day moving average price of $87.35 and a two-hundred day moving average price of $81.55. The stock has a market capitalization of $2.04 billion, a PE ratio of 27.03, a PEG ratio of 2.80 and a beta of 0.63. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million during 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%.Spectrum Brands’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. Equities analysts expect that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SPB shares. Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Royal Bank Of Canada downgraded shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $96.00 price target on shares of Spectrum Brands in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands has an average rating of “Hold” and an average price target 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.