Gamco Investors INC. ET AL Acquires 28,569 Shares of Spectrum Brands Holdings Inc. $SPB

Key Points

• Gamco Investors increased its stake in Spectrum Brands by 8.8% in the fourth quarter, buying 28,569 additional shares and bringing its total holdings to 354,082 shares worth about $20.9 million.
• Spectrum Brands posted better-than-expected quarterly results, reporting EPS of $1.25 versus estimates of $1.04 and revenue of $708.9 million, up 4.9% year over year.
• Analysts are broadly moderately bullish on the stock, with a consensus rating of “Moderate Buy” and an average price target of $86.20; the company also announced a quarterly dividend of $0.47 per share.

Gamco Investors INC. ET AL lifted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,082 shares of the company's stock after purchasing an additional 28,569 shares during the quarter. Gamco Investors INC. ET AL owned 1.52% of Spectrum Brands worth $20,919,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SPB. American Century Companies Inc. boosted its position in shares of Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company's stock worth $107,836,000 after acquiring an additional 260,085 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company's stock worth $1,188,000 after acquiring an additional 10,605 shares in the last quarter. Rovida Advisors Inc. boosted its position in shares of Spectrum Brands by 1,140.4% during the 3rd quarter. Rovida Advisors Inc. now owns 60,000 shares of the company's stock worth $3,150,000 after acquiring an additional 55,163 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in shares of Spectrum Brands by 91.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 47,935 shares of the company's stock worth $2,832,000 after acquiring an additional 22,935 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its position in shares of 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 acquiring an additional 25,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a research report on Friday, February 6th. Oppenheimer increased their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Weiss Ratings upgraded shares of Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $81.00 target price on shares of Spectrum Brands in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.20.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $77.26 on Tuesday. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $86.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The firm has a market capitalization of $1.79 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.42 and a beta of 0.67. The company's 50 day moving average price is $78.08 and its two-hundred day moving average price is $68.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. During the same quarter last year, the business posted $0.68 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be given a $0.47 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands's dividend payout ratio (DPR) is currently 35.88%.

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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