Corient Private Wealth LLC Boosts Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Corient Private Wealth LLC increased its stake in Spectrum Brands by 449.7% in the fourth quarter, ending with 21,670 shares valued at about $1.28 million.
• Spectrum Brands reported strong quarterly results, with earnings of $1.25 per share and revenue of $708.9 million, both beating analyst estimates; revenue rose 4.9% year over year.
• The company also paid a quarterly dividend of $0.47 per share, and analysts currently have a Moderate Buy consensus with an average price target of $86.00.

Corient Private Wealth LLC grew its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 449.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,670 shares of the company's stock after acquiring an additional 17,728 shares during the quarter. Corient Private Wealth LLC owned about 0.09% of Spectrum Brands worth $1,280,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock worth $31,000 after purchasing an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock worth $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC increased its position in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after purchasing an additional 335 shares in the last quarter. Headlands Technologies LLC acquired a new position in Spectrum Brands during the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position in Spectrum Brands during the third quarter valued at approximately $51,000.

Insider Activity

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares of the company's stock, valued at approximately $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company's stock.

Spectrum Brands Trading Up 0.7%

SPB opened at $86.36 on Thursday. The stock has a market capitalization of $1.99 billion, a PE ratio of 16.48, a P/E/G ratio of 2.69 and a beta of 0.64. The firm's fifty day moving average price is $81.45 and its 200 day moving average price is $74.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $88.14.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, research analysts expect that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors 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 of this dividend was Tuesday, May 26th. Spectrum Brands's dividend payout ratio is currently 35.88%.

Analysts Set New Price Targets

A number of brokerages have commented on SPB. Weiss Ratings upgraded Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Wall Street Zen lowered Spectrum Brands from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, Canaccord Genuity Group lowered their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently 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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