22,732 Shares in Spectrum Brands Holdings Inc. $SPB Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 22,732 Spectrum Brands shares in the second quarter, valued at approximately $1.95 million and representing about 0.10% of the company.
• Several other institutional investors also initiated or expanded positions, including Pzena Investment Management, BlackRock and Alberta Investment Management, indicating increased institutional interest.
• Spectrum Brands reported quarterly revenue of $753.3 million and earnings of $2.79 per share, exceeding analyst estimates. The company declared a quarterly dividend of $0.47 per share, while analysts maintained a consensus “Hold” rating with a $98.83 price target.

Engineers Gate Manager LP acquired a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,732 shares of the company's stock, valued at approximately $1,949,000. Engineers Gate Manager LP owned approximately 0.10% of Spectrum Brands as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC bought a new position in shares of Spectrum Brands during the second quarter valued at $207,584,000. BlackRock Inc. bought a new stake in Spectrum Brands during the 2nd quarter valued at about $166,197,000. Alberta Investment Management Corp purchased a new position in Spectrum Brands in the second quarter worth about $46,353,000. LSV Asset Management lifted its stake in shares of Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company's stock worth $35,624,000 after buying an additional 17,100 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Spectrum Brands during the second quarter valued at approximately $26,496,000.

Spectrum Brands Price Performance

NYSE SPB opened at $85.51 on Wednesday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 2.69 and a beta of 0.65. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $99.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The business's fifty day moving average price is $87.80 and its 200-day moving average price is $82.43.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The company had revenue of $753.30 million during the quarter, compared to analysts' expectations of $732.19 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. Spectrum Brands's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts predict that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands's payout ratio is currently 57.32%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPB shares. Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Monness Crespi & Hardt upped their price target on Spectrum Brands from $86.00 to $105.00 and gave the company a "buy" rating in a report on Monday, August 10th. Oppenheimer increased their price objective on Spectrum Brands from $85.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company boosted their target price on Spectrum Brands from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of "Hold" and a consensus target price of $98.83.

About Spectrum Brands

Spectrum Brands Holdings, Inc NYSE: SPB is a global branded consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes products for household, personal care and pet-care needs, selling through mass retailers, specialty stores, e-commerce channels and other outlets.

Its portfolio has included well-known brands such as Remington personal-care products, Black+Decker-branded small appliances under license, Russell Hobbs and Farberware kitchen products, and Pfister plumbing products.

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