Ieq Capital LLC Purchases Shares of 34,066 Spectrum Brands Holdings Inc. $SPB

Ieq Capital LLC acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 34,066 shares of the company’s stock, valued at approximately $2,921,000.

Several other hedge funds have also recently made changes to their positions in SPB. ProShare Advisors LLC raised its holdings in shares of Spectrum Brands by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after acquiring an additional 140 shares in the last quarter. Federated Hermes Inc. increased its position in Spectrum Brands by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock valued at $712,000 after purchasing an additional 157 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 96.9% in 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 in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Spectrum Brands in the 2nd quarter worth about $27,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Spectrum Brands by 111.7% in 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 period.

Spectrum Brands Trading Up 1.6%

NYSE:SPB opened at $88.32 on Tuesday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 26.93, a PEG ratio of 2.74 and a beta of 0.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $99.06. The company’s 50-day simple moving average is $86.90 and its 200 day simple moving average is $81.17.

Spectrum Brands (NYSE:SPB) last released its earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $1.33. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The firm had revenue of $753.30 million during the quarter, compared to analyst estimates of $732.19 million. During the same period last year, the business earned $1.24 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be issued 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%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPB shares. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Canaccord Genuity Group raised their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price objective 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. Monness Crespi & Hardt increased their target price on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.83.

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.