Spectrum Brands Holdings Inc. $SPB Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Spectrum Brands Holdings Inc. by 185.6%, purchasing an additional 12,350 shares, bringing its total ownership to 19,003 shares valued at approximately $1.36 million.
• Several institutional investors have also raised their stakes in Spectrum Brands, including American Century Companies Inc. and Alberta Investment Management, reflecting a growing interest in the stock.
• Spectrum Brands recently declared a quarterly dividend of $0.47 per share, yielding approximately 3.3%, with a payout ratio of 70.15% as of the most recent filing.

Ieq Capital LLC increased its stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 185.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,003 shares of the company's stock after purchasing an additional 12,350 shares during the quarter. Ieq Capital LLC owned 0.07% of Spectrum Brands worth $1,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Man Group plc boosted its holdings in Spectrum Brands by 160.5% in the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after purchasing an additional 197,263 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Spectrum Brands by 403.9% in the fourth quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock worth $19,754,000 after purchasing an additional 187,400 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock worth $53,665,000 after purchasing an additional 186,729 shares during the last quarter. Nuveen LLC purchased a new position in shares of Spectrum Brands during the 1st quarter worth $11,579,000. Finally, American Century Companies Inc. boosted its stake in shares of Spectrum Brands by 7.5% during the 1st quarter. American Century Companies Inc. now owns 1,319,420 shares of the company's stock worth $94,405,000 after acquiring an additional 92,418 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Canaccord Genuity Group decreased their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. 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 report on Monday, August 11th. Wall Street Zen upgraded shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.80.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock traded up $1.02 during trading hours on Thursday, reaching $55.75. The company's stock had a trading volume of 271,379 shares, compared to its average volume of 542,009. The firm has a 50 day moving average price of $56.04 and a 200-day moving average price of $61.59. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The stock has a market cap of $1.35 billion, a P/E ratio of 20.80 and a beta of 0.83.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted 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 return on equity of 5.27% and a net margin of 2.56%.The business had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. During the same quarter last year, the firm earned $1.13 earnings per share. The business's quarterly revenue was down 10.2% on a year-over-year basis. On average, analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's payout ratio is 70.15%.

Spectrum Brands Profile

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.