Aigen Investment Management LP Makes New Investment in Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• Aigen Investment Management LP has made a new investment of approximately $386,000 in Spectrum Brands Holdings, acquiring 5,401 shares in the company.
• Analysts have varied price targets for Spectrum Brands, with Royal Bank of Canada setting a $75.00 price objective and a consensus average target of $74.80.
• Spectrum Brands recently reported a quarterly earnings per share of $1.24, slightly missing the expected estimate of $1.25, with a 10.2% year-over-year revenue decline.

Aigen Investment Management LP bought a new position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,401 shares of the company's stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alberta Investment Management Corp raised its holdings in shares of Spectrum Brands by 33.1% during the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock worth $53,665,000 after acquiring an additional 186,729 shares during the period. LSV Asset Management grew its position in Spectrum Brands by 2.7% in the first quarter. LSV Asset Management now owns 662,475 shares of the company's stock valued at $47,400,000 after purchasing an additional 17,445 shares in the last quarter. Callodine Capital Management LP grew its position in Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after purchasing an additional 121,000 shares in the last quarter. Systematic Financial Management LP grew its position in Spectrum Brands by 4.0% in the fourth quarter. Systematic Financial Management LP now owns 359,748 shares of the company's stock valued at $30,395,000 after purchasing an additional 13,743 shares in the last quarter. Finally, Man Group plc grew its position in Spectrum Brands by 160.5% in the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after purchasing an additional 197,263 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPB. Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a research report on Monday. UBS Group lifted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.80.

Spectrum Brands Stock Down 2.0%

Shares of SPB stock traded down $1.19 on Thursday, hitting $58.22. The stock had a trading volume of 423,931 shares, compared to its average volume of 638,517. The business has a 50 day moving average of $55.27 and a 200 day moving average of $63.96. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 21.72 and a beta of 0.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. Spectrum Brands Holdings Inc. has a 12-month low of $50.73 and a 12-month high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company had revenue of $699.60 million for the quarter, compared to the consensus estimate of $742.13 million. During the same quarter in the previous year, the company posted $1.13 EPS. Spectrum Brands's quarterly revenue was down 10.2% compared to the same quarter last year. As a group, analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.2%. Spectrum Brands's dividend payout ratio (DPR) is currently 70.15%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.