Rice Hall James & Associates LLC Acquires 8,783 Shares of Spectrum Brands Holdings Inc. $SPB

Rice Hall James & Associates LLC lifted its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 37.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,050 shares of the company’s stock after acquiring an additional 8,783 shares during the period. Rice Hall James & Associates LLC owned approximately 0.14% of Spectrum Brands worth $2,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SPB. ProShare Advisors LLC raised its stake in Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after purchasing an additional 140 shares during the last quarter. Federated Hermes Inc. grew its position in Spectrum Brands by 1.3% in the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after purchasing an additional 157 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position 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 during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 period. Finally, CWM LLC increased its holdings in shares of Spectrum Brands by 58.2% during the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock worth $73,000 after purchasing an additional 455 shares during the period.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $88.91 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The firm’s 50-day simple moving average is $82.98 and its 200-day simple moving average is $77.48. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $90.60. The firm has a market cap of $2.04 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.79 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. As a group, research analysts expect that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio is currently 35.88%.

Insider Activity

In related news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. This represents a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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.