LSV Asset Management Has $32.20 Million Position in Spectrum Brands Holdings Inc. $SPB

LSV Asset Management lessened its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 607,480 shares of the company’s stock after selling 54,995 shares during the period. LSV Asset Management’s holdings in Spectrum Brands were worth $32,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings in shares of Spectrum Brands by 10.5% in the 2nd quarter. Pzena Investment Management LLC now owns 1,474,451 shares of the company’s stock valued at $78,146,000 after purchasing an additional 140,418 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Spectrum Brands by 7.5% during the 1st quarter. American Century Companies Inc. now owns 1,319,420 shares of the company’s stock worth $94,405,000 after buying an additional 92,418 shares during the last quarter. Alberta Investment Management Corp boosted its stake in Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company’s stock valued at $53,665,000 after buying an additional 186,729 shares in the last quarter. Callodine Capital Management LP grew its position in Spectrum Brands by 38.4% in the first quarter. Callodine Capital Management LP now owns 730,000 shares of the company’s stock valued at $52,232,000 after acquiring an additional 202,500 shares during the last quarter. Finally, Armistice Capital LLC raised its stake in Spectrum Brands by 20.0% during the first quarter. Armistice Capital LLC now owns 691,000 shares of the company’s stock worth $49,441,000 after acquiring an additional 115,143 shares in the last quarter.

Spectrum Brands Trading Down 2.8%

Spectrum Brands stock opened at $54.37 on Wednesday. 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 stock has a market cap of $1.32 billion, a PE ratio of 13.73 and a beta of 0.82. The stock has a 50-day moving average of $53.67 and a two-hundred day moving average of $55.75. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $96.62.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $1.84. The firm had revenue of $733.50 million for the quarter, compared to the consensus estimate of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.27%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 24th. Spectrum Brands’s payout ratio is presently 47.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPB shares. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Canaccord Genuity Group raised their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a research note on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

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.