8,900 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the second quarter, HoldingsChannel.com reports. The fund purchased 8,900 shares of the company’s stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds have also modified their holdings of SPB. Allspring Global Investments Holdings LLC increased its stake in Spectrum Brands by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock valued at $172,511,000 after purchasing an additional 79,322 shares in the last quarter. Pzena Investment Management LLC increased its stake in Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after purchasing an additional 234,784 shares in the last quarter. Alberta Investment Management Corp increased its stake in Spectrum Brands by 7.9% in the fourth quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock valued at $59,724,000 after purchasing an additional 55,100 shares in the last quarter. LSV Asset Management increased its stake in Spectrum Brands by 68.9% in the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after purchasing an additional 304,217 shares in the last quarter. Finally, Norges Bank bought a new stake in Spectrum Brands in the fourth quarter valued at approximately $20,652,000.

Wall Street Analyst Weigh In

SPB has been the subject of several research analyst reports. UBS Group upped their price target on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Finally, Wells Fargo & Company upped their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands has an average rating of “Hold” and an average target price of $101.88.

Spectrum Brands Stock Performance

NYSE SPB opened at $93.79 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $89.45 and its two-hundred day moving average price is $87.47. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The firm has a market capitalization of $2.63 billion, a P/E ratio of 1.90, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22.

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

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, August 27th. Spectrum Brands’s payout ratio 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.