Empowered Funds LLC Takes $8.66 Million Position in Spectrum Brands Holdings Inc. $SPB

Empowered Funds LLC purchased a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 100,953 shares of the company’s stock, valued at approximately $8,657,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPB. Global Retirement Partners LLC bought a new position in shares of Spectrum Brands during the second quarter valued at $27,000. Allworth Financial LP bought a new stake in shares of Spectrum Brands in the second quarter worth $29,000. Northwestern Mutual Wealth Management Co. increased its holdings in 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 period. Nomura Asset Management Co. Ltd. raised its position in 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. Finally, Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after purchasing an additional 335 shares during the last quarter.

Spectrum Brands Price Performance

Shares of SPB opened at $88.67 on Friday. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The business’s 50 day moving average price is $87.35 and its two-hundred day moving average price is $81.55. The firm has a market cap of $2.04 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $1.46 by $1.33. The company had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. On average, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands’s payout ratio is 57.32%.

Analyst Upgrades and Downgrades

SPB has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Oppenheimer raised their price objective on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Monness Crespi & Hardt upped their target price on Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a report on Monday, August 10th. Royal Bank Of Canada lowered shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $85.00 to $92.00 in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.83.

About Spectrum Brands

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.