Edgestream Partners L.P. Invests $2.22 Million in Spectrum Brands Holdings Inc. $SPB

Key Points

• Edgestream Partners L.P. acquired 30,174 Spectrum Brands shares worth approximately $2.22 million, representing about 0.13% of the company. Several other institutional investors also increased or initiated positions.
• Spectrum Brands reported quarterly EPS of $1.25, beating estimates of $1.04, while revenue rose 4.9% year over year to $708.9 million. Analysts expect full-year EPS of approximately $5.32.
• Analyst sentiment remains positive but mixed, with a consensus “Moderate Buy” rating and an $87 target price. The company also pays a quarterly dividend of $0.47 per share, equivalent to a 2.1% yield.

Edgestream Partners L.P. bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,174 shares of the company's stock, valued at approximately $2,224,000. Edgestream Partners L.P. owned about 0.13% of Spectrum Brands at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings 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% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock valued at $37,000 after buying an additional 310 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 buying an additional 335 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Spectrum Brands during the 2nd quarter worth approximately $41,000. Finally, Quarry LP purchased a new position in shares of Spectrum Brands in the 3rd quarter worth approximately $51,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SPB shares. Canaccord Genuity Group reduced their target price on Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. Wall Street Zen cut Spectrum Brands from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Wells Fargo & Company upped their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Spectrum Brands Stock Performance

NYSE:SPB opened at $88.66 on Monday. The company has a market capitalization of $2.04 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.79 and a beta of 0.63. The business has a fifty day simple moving average of $84.32 and a two-hundred day simple moving average of $78.39. 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 1 year low of $49.99 and a 1 year high of $91.42.

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

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands's dividend payout ratio is 35.88%.

Insider Buying and Selling

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by company insiders.

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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