Deutsche Bank AG Takes $2.13 Million Position in Spectrum Brands Holdings Inc. $SPB

Deutsche Bank AG bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 24,869 shares of the company’s stock, valued at approximately $2,133,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Spectrum Brands during the second quarter worth approximately $46,353,000. Callodine Capital Management LP increased its position in Spectrum Brands by 20.4% during the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after buying an additional 350,261 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Spectrum Brands in the second quarter valued at approximately $15,409,000. Finally, Bank of New York Mellon Corp purchased a new stake in Spectrum Brands in the second quarter valued at approximately $20,260,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPB shares. Wells Fargo & Company raised 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 upped their price target on shares of Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $96.00 price target on shares of Spectrum Brands in a research note on Monday, August 10th. Oppenheimer lifted their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada cut shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $85.00 to $92.00 in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.83.

Spectrum Brands Trading Down 0.3%

NYSE:SPB opened at $88.60 on Friday. The firm has a market cap of $2.04 billion, a P/E ratio of 27.01, a PEG ratio of 2.80 and a beta of 0.63. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $87.26 and its 200-day simple moving average is $81.50. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $99.06.

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

Spectrum Brands Announces Dividend

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

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.