Empowered Funds LLC Purchases Shares of 100,953 Spectrum Brands Holdings Inc. $SPB

Key Points

• Empowered Funds LLC acquired 100,953 shares of Spectrum Brands in the second quarter, worth approximately $8.7 million and representing about 0.44% of the company. Several other institutional investors also increased or initiated positions.
• Spectrum Brands reported quarterly earnings of $2.79 per share, beating the $1.46 analyst consensus, while revenue rose 7.7% year over year to $753.3 million.
• The company declared a quarterly dividend of $0.47 per share, or $1.88 annually, yielding about 2.1%. Analysts maintain an average “Hold” rating with an average price target of $98.83.

Empowered Funds LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,953 shares of the company's stock, valued at approximately $8,657,000. Empowered Funds LLC owned about 0.44% of Spectrum Brands as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC increased its position in Spectrum Brands by 9.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company's stock worth $17,724,000 after buying an additional 25,000 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Spectrum Brands by 8.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company's stock valued at $20,919,000 after acquiring an additional 28,569 shares during the period. LSV Asset Management grew 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 valued at $35,624,000 after acquiring an additional 17,100 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Spectrum Brands in the fourth quarter valued at about $6,242,000. Finally, PEAK6 LLC bought a new position in Spectrum Brands during the second quarter worth about $2,955,000.

Spectrum Brands Stock Up 0.2%

NYSE SPB opened at $88.67 on Friday. The business has a fifty day moving average price of $87.35 and a two-hundred day moving average price of $81.55. The stock has a market capitalization of $2.04 billion, a PE ratio of 27.03, a PEG ratio of 2.80 and a beta of 0.63. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week 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.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million during the quarter, compared to analysts' expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.Spectrum Brands's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. Equities analysts expect that Spectrum Brands Holdings Inc. will post 6.38 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. Investors of record on Tuesday, August 25th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands's payout ratio is 57.32%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SPB shares. Weiss Ratings cut shares of Spectrum Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Spectrum Brands from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Royal Bank Of Canada downgraded shares of Spectrum Brands from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Wall Street Zen cut Spectrum Brands from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $96.00 price target on shares of Spectrum Brands in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Spectrum Brands has an average rating of "Hold" and an average price target of $98.83.

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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