Gamco Investors INC. ET AL Boosts Stock Position 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 lifted its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 10.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.94% of Spectrum Brands worth $17,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Spectrum Brands by 82.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,938 shares of the company's stock worth $425,000 after acquiring an additional 2,679 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in Spectrum Brands by 33.3% during the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company's stock worth $14,310,000 after buying an additional 50,000 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Spectrum Brands during the first quarter worth $118,000. GAMMA Investing LLC boosted its stake in Spectrum Brands by 4,757.5% during the first quarter. GAMMA Investing LLC now owns 15,884 shares of the company's stock worth $1,137,000 after buying an additional 15,557 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Spectrum Brands during the first quarter worth $386,000.

Spectrum Brands Trading Up 1.9%

Shares of Spectrum Brands stock traded up $1.08 during trading hours on Monday, hitting $57.03. The company's stock had a trading volume of 537,265 shares, compared to its average volume of 569,684. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The firm has a fifty day moving average of $55.84 and a 200-day moving average of $61.82. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 21.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The business had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period last year, the company earned $1.13 EPS. The business's revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on SPB shares. Canaccord Genuity Group lowered their price objective on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an "outperform" rating in a research note on Monday, August 11th. Monness Crespi & Hardt lowered their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their price objective on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.80.

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.