Assenagon Asset Management S.A. Invests $1.61 Million in Spectrum Brands Holdings Inc. $SPB

Assenagon Asset Management S.A. acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 21,790 shares of the company’s stock, valued at approximately $1,606,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Spectrum Brands during the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new stake in Spectrum Brands during the 3rd quarter valued at $51,000.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the transaction, the chief executive officer owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPB. Canaccord Genuity Group dropped their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

Spectrum Brands Stock Performance

NYSE SPB opened at $86.36 on Thursday. The business’s 50-day moving average price is $81.45 and its 200 day moving average price is $74.37. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $88.14. The company has a market capitalization of $1.99 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. During the same quarter in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s payout ratio is presently 35.88%.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.