Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC raised its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 28.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,994 shares of the company’s stock after buying an additional 47,400 shares during the period. Gabelli Funds LLC owned about 0.76% of Spectrum Brands worth $18,303,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SPB. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands in the 1st quarter worth about $27,000. Central Pacific Bank Trust Division purchased a new stake in shares of Spectrum Brands in the first quarter valued at approximately $30,000. Versant Capital Management Inc raised its stake in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after buying an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Spectrum Brands during the 1st quarter valued at approximately $42,000. Finally, Headlands Technologies LLC acquired a new stake in Spectrum Brands in the 2nd quarter valued at $50,000.

Wall Street Analysts Forecast Growth

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

Spectrum Brands Stock Up 0.6 %

Shares of NYSE SPB opened at $93.53 on Monday. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The company has a market capitalization of $2.62 billion, a P/E ratio of 1.89, a P/E/G ratio of 0.33 and a beta of 1.22. The company has a 50 day simple moving average of $88.76 and a 200-day simple moving average of $87.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $750.97 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Spectrum Brands’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

Spectrum Brands Company 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.