Corient Private Wealth LP Makes New $2.43 Million Investment in Spectrum Brands Holdings Inc. $SPB

Corient Private Wealth LP bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,365 shares of the company’s stock, valued at approximately $2,432,000.

Several other hedge funds have also modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Spectrum Brands during the 2nd quarter worth approximately $27,000. Allworth Financial LP purchased a new position in Spectrum Brands in the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter.

Spectrum Brands Stock Performance

Shares of SPB opened at $89.26 on Thursday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.71 and a beta of 0.65. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $87.52 and its two-hundred day moving average is $81.86. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. The business 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 business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. Analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Oppenheimer upped their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Spectrum Brands currently has a consensus rating of “Hold” and an average price target 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.