Acadian Asset Management LLC Makes New Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Acadian Asset Management LLC bought a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 36,344 shares of the company’s stock, valued at approximately $3,119,000. Acadian Asset Management LLC owned about 0.13% of Spectrum Brands at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Spectrum Brands by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock worth $172,511,000 after acquiring an additional 79,322 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Spectrum Brands by 21.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock worth $117,091,000 after buying an additional 234,784 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in Spectrum Brands by 7.9% during the 4th quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock worth $59,724,000 after buying an additional 55,100 shares during the last quarter. LSV Asset Management grew its position in shares of Spectrum Brands by 68.9% in the 1st quarter. LSV Asset Management now owns 745,680 shares of the company’s stock worth $66,373,000 after acquiring an additional 304,217 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Spectrum Brands by 50.0% during the 4th quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after acquiring an additional 108,076 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPB shares. UBS Group lifted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lowered their target price on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $90.28 on Friday. The firm’s 50 day moving average is $87.60 and its two-hundred day moving average is $86.67. The firm has a market capitalization of $2.53 billion, a P/E ratio of 1.83, a PEG ratio of 0.33 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The business had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be given a $0.42 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.86%. Spectrum Brands’s dividend payout ratio is presently 3.40%.

Spectrum Brands Profile

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.