Spectrum Brands Holdings Inc. $SPB Shares Purchased by Pullen Investment Management LLC

Pullen Investment Management LLC increased its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 189.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,735 shares of the company’s stock after purchasing an additional 23,374 shares during the quarter. Spectrum Brands accounts for 1.1% of Pullen Investment Management LLC’s holdings, making the stock its 29th largest holding. Pullen Investment Management LLC’s holdings in Spectrum Brands were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Blue Trust Inc. grew its stake in Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after purchasing an additional 328 shares in the last quarter. MQS Management LLC grew its stake in Spectrum Brands by 13.6% during the 2nd quarter. MQS Management LLC now owns 5,365 shares of the company’s stock worth $284,000 after purchasing an additional 642 shares in the last quarter. Humankind Investments LLC lifted its holdings in Spectrum Brands by 13.9% during the 1st quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after buying an additional 710 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Spectrum Brands by 14.9% during the 1st quarter. Cerity Partners LLC now owns 6,486 shares of the company’s stock worth $464,000 after acquiring an additional 841 shares in the last quarter.

Spectrum Brands Stock Up 0.8%

Spectrum Brands stock opened at $55.71 on Friday. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $96.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The company has a market capitalization of $1.35 billion, a P/E ratio of 20.79 and a beta of 0.81. The stock has a 50-day simple moving average of $54.08 and a 200-day simple moving average of $56.65.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million during the quarter, compared to analysts’ expectations of $742.13 million. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 26th. Spectrum Brands’s payout ratio is presently 70.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPB. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spectrum Brands in a research report on Friday. Wells Fargo & Company lowered their price objective on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Wall Street Zen cut Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Canaccord Genuity Group lowered their price objective on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands has an average rating of “Moderate Buy” and a consensus target price of $73.80.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.