Assenagon Asset Management S.A. Has $10.04 Million Stock Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Assenagon Asset Management increased its Spectrum Brands stake by 437.2% in the second quarter, bringing its holdings to 117,055 shares worth approximately $10.04 million.
• Analyst sentiment remains mixed: Spectrum Brands has an average “Hold” rating and a consensus price target of $98.83, while recent targets range from $92 to $110.
• Spectrum Brands reported quarterly EPS of $2.79, well above the $1.46 consensus estimate, with revenue rising 7.7% year over year to $753.3 million. The company also declared a $0.47 quarterly dividend, representing a 2.1% yield.

Assenagon Asset Management S.A. boosted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 437.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,055 shares of the company's stock after buying an additional 95,265 shares during the period. Assenagon Asset Management S.A. owned approximately 0.51% of Spectrum Brands worth $10,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. boosted its position in Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock worth $31,000 after acquiring an additional 579 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock valued at $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock valued at $38,000 after purchasing an additional 335 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands in the second quarter worth approximately $41,000. Finally, Quarry LP purchased a new stake in shares of Spectrum Brands in the third quarter worth approximately $51,000.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $96.00 price objective on shares of Spectrum Brands in a research note on Monday. Royal Bank Of Canada lowered shares of Spectrum Brands from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $85.00 to $92.00 in a research note on Monday. Canaccord Genuity Group boosted their price target on shares of Spectrum Brands from $99.00 to $110.00 and gave the company a "buy" rating in a report on Monday. Finally, Oppenheimer upped their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of "Hold" and a consensus target price of $98.83.

Spectrum Brands Stock Down 2.7%

Spectrum Brands stock opened at $87.68 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $99.06. The firm's fifty day simple moving average is $85.64 and its 200-day simple moving average is $79.51. The company has a market capitalization of $2.02 billion, a P/E ratio of 26.73, a P/E/G ratio of 2.83 and a beta of 0.63.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $1.33. The firm had revenue of $753.30 million during the quarter, compared to analysts' expectations of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 9.99%. Spectrum Brands's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

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

Insider Activity

In related news, CEO David M. Maura acquired 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company's stock.

Spectrum Brands 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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