Gamco Investors INC. ET AL Increases Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Gamco Investors INC. ET AL has increased its stake in Spectrum Brands Holdings Inc. by 10.5% during Q1, now holding a total of 246,966 shares valued at $17.67 million.
• Several hedge funds, including Versant Capital Management Inc. and Pallas Capital Advisors LLC, have significantly raised their holdings in Spectrum Brands during the same period.
• Spectrum Brands recently reported Q2 earnings of $1.24 per share, missing estimates and indicating a 10.2% revenue decline year-over-year, alongside a quarterly dividend of $0.47 per share.

Gamco Investors INC. ET AL boosted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,966 shares of the company's stock after acquiring an additional 23,543 shares during the period. Gamco Investors INC. ET AL owned about 0.94% of Spectrum Brands worth $17,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SPB. American Century Companies Inc. grew its position in shares of Spectrum Brands by 7.5% in the first quarter. American Century Companies Inc. now owns 1,319,420 shares of the company's stock valued at $94,405,000 after purchasing an additional 92,418 shares during the last quarter. Alberta Investment Management Corp lifted its stake in Spectrum Brands by 33.1% in the 1st quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after buying an additional 186,729 shares in the last quarter. LSV Asset Management grew its holdings in Spectrum Brands by 2.7% during the 1st quarter. LSV Asset Management now owns 662,475 shares of the company's stock valued at $47,400,000 after buying an additional 17,445 shares during the last quarter. Systematic Financial Management LP increased its position in Spectrum Brands by 4.0% during the fourth quarter. Systematic Financial Management LP now owns 359,748 shares of the company's stock worth $30,395,000 after buying an additional 13,743 shares in the last quarter. Finally, Man Group plc increased its position in Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after buying an additional 197,263 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SPB shares. UBS Group upped their price objective on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Monness Crespi & Hardt cut their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Canaccord Genuity Group cut their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.80.

Spectrum Brands Trading Up 1.9%

Shares of SPB stock traded up $1.08 on Friday, reaching $57.03. 537,265 shares of the stock were exchanged, compared to its average volume of 572,408. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.38 billion, a P/E ratio of 21.28 and a beta of 0.86. The firm has a 50 day moving average of $55.84 and a two-hundred day moving average of $62.04. Spectrum Brands Holdings Inc. has a 1-year low of $50.73 and a 1-year high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same quarter in the previous year, the business posted $1.13 EPS. Spectrum Brands's revenue was down 10.2% compared to the same quarter last year. On average, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. Spectrum Brands's payout ratio is presently 70.15%.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.