21,790 Shares in Spectrum Brands Holdings Inc. $SPB Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. bought 21,790 shares of Spectrum Brands Holdings in the first quarter, a stake valued at about $1.61 million and representing roughly 0.09% of the company.
• Spectrum Brands reported better-than-expected quarterly results, posting $1.25 EPS versus the $1.04 estimate and revenue of $708.9 million, up 4.9% year over year.
• The company also paid a quarterly dividend of $0.47 per share, equating to an annualized yield of 2.2%, while analysts currently rate the stock a “Moderate Buy” with an average price target of $86.

Assenagon Asset Management S.A. acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,790 shares of the company's stock, valued at approximately $1,606,000. Assenagon Asset Management S.A. owned about 0.09% of Spectrum Brands at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SPB. Corient Private Wealth LLC grew its stake in shares of Spectrum Brands by 449.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,670 shares of the company's stock worth $1,280,000 after purchasing an additional 17,728 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Spectrum Brands in the fourth quarter valued at $6,242,000. Kera Capital Partners Inc. acquired a new stake in Spectrum Brands in the fourth quarter valued at $300,000. Invesco Ltd. raised its stake in Spectrum Brands by 34.9% in the fourth quarter. Invesco Ltd. now owns 76,529 shares of the company's stock valued at $4,521,000 after buying an additional 19,819 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Spectrum Brands by 53.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,434 shares of the company's stock worth $971,000 after buying an additional 5,724 shares during the last quarter.

Spectrum Brands Price Performance

Shares of SPB opened at $86.36 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $88.14. The firm has a 50-day simple moving average of $81.45 and a 200-day simple moving average of $74.37. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same period last year, the company earned $0.68 earnings per share. The company's revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands's payout ratio is presently 35.88%.

Insider Buying and Selling at Spectrum Brands

In related news, CEO David M. Maura purchased 2,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares of the company's stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPB shares. Weiss Ratings raised Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Canaccord Genuity Group decreased their target price on Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, June 17th. 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. Finally, Wall Street Zen lowered shares of Spectrum Brands from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Spectrum Brands Company 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.

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