Spectrum Brands Holdings Inc. $SPB Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC boosted its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,209 shares of the company’s stock after purchasing an additional 51,582 shares during the period. Gabelli Funds LLC owned approximately 1.30% of Spectrum Brands worth $16,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. American Century Companies Inc. raised its holdings in Spectrum Brands by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 1,792,765 shares of the company’s stock valued at $95,017,000 after buying an additional 473,345 shares during the period. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 10.5% in the second quarter. Pzena Investment Management LLC now owns 1,474,451 shares of the company’s stock valued at $78,146,000 after acquiring an additional 140,418 shares in the last quarter. Callodine Capital Management LP boosted its stake in shares of Spectrum Brands by 38.4% in the 1st quarter. Callodine Capital Management LP now owns 730,000 shares of the company’s stock valued at $52,232,000 after buying an additional 202,500 shares during the period. Armistice Capital LLC lifted its stake in Spectrum Brands by 20.0% in 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 during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Spectrum Brands by 142.5% during the first quarter. AQR Capital Management LLC now owns 634,137 shares of the company’s stock worth $44,592,000 after purchasing an additional 372,630 shares in the last quarter.

Spectrum Brands Price Performance

Shares of SPB stock opened at $57.22 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 1.41. The firm has a market cap of $1.34 billion, a P/E ratio of 14.45 and a beta of 0.72. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $96.62. The firm has a fifty day moving average of $54.85 and a two-hundred day moving average of $55.17.

Spectrum Brands (NYSE:SPB) last announced 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 analysts’ expectations of $738.57 million. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.Spectrum Brands’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 firm posted $0.97 earnings per share. As a group, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, November 24th. This represents a $1.88 annualized dividend and a yield of 3.3%. Spectrum Brands’s payout ratio is presently 47.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Wells Fargo & Company upped their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Spectrum Brands in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Canaccord Genuity Group upped their price objective on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Spectrum Brands Profile

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.