Pacer Advisors Inc. Grows Stock Holdings in Spectrum Brands Holdings Inc. $SPB

Pacer Advisors Inc. grew its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 52.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 161,213 shares of the company’s stock after buying an additional 55,563 shares during the quarter. Pacer Advisors Inc.’s holdings in Spectrum Brands were worth $11,881,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Spectrum Brands by 374,119.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after purchasing an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP raised its position in Spectrum Brands by 20.4% during the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after purchasing an additional 350,261 shares during the last quarter. LSV Asset Management raised its position in Spectrum Brands by 2.9% during the 4th quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after purchasing an additional 17,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Spectrum Brands by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company’s stock worth $34,263,000 after buying an additional 33,194 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Spectrum Brands by 71.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after buying an additional 224,481 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on SPB shares. Wells Fargo & Company upped their target price on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group decreased their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Spectrum Brands Trading Up 2.1%

NYSE SPB opened at $90.81 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 2.29 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 $91.66. The firm has a market capitalization of $2.09 billion, a PE ratio of 17.33, a P/E/G ratio of 2.79 and a beta of 0.63. The stock’s 50 day moving average is $84.77 and its 200 day moving average is $78.75.

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

Insider Buying and Selling at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of Spectrum Brands stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

Spectrum Brands 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.