LSV Asset Management Boosts Stock Position in Spectrum Brands Holdings Inc. $SPB

Key Points

• LSV Asset Management increased its stake in Spectrum Brands by 2.9% in the fourth quarter, bringing its holdings to 602,980 shares worth about $35.6 million.
• Spectrum Brands reported stronger-than-expected quarterly results, with earnings of $1.25 per share versus the $1.04 estimate and revenue of $708.9 million, up 4.9% year over year.
• The company remains supported by analyst and insider activity, with a Moderate Buy consensus, an average price target of $86.20, and CEO David M. Maura recently buying 2,500 shares.

LSV Asset Management lifted its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 602,980 shares of the company's stock after purchasing an additional 17,100 shares during the quarter. LSV Asset Management owned 2.59% of Spectrum Brands worth $35,624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Spectrum Brands by 18.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,043 shares of the company's stock worth $239,000 after purchasing an additional 641 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Spectrum Brands by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company's stock worth $279,000 after purchasing an additional 140 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Spectrum Brands by 8.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company's stock worth $20,919,000 after purchasing an additional 28,569 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company's stock worth $129,779,000 after purchasing an additional 2,196,079 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Spectrum Brands by 9.6% in the 4th quarter. First Eagle Investment Management LLC now owns 206,772 shares of the company's stock worth $12,216,000 after purchasing an additional 18,100 shares in the last quarter.

Wall Street Analyst Weigh In

SPB has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Spectrum Brands from $62.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group increased their target price on Spectrum Brands from $94.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 8th. Weiss Ratings upgraded Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Finally, Oppenheimer increased their target price on Spectrum Brands from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $86.20.

Spectrum Brands Trading Up 0.2%

Shares of SPB stock opened at $78.49 on Monday. The stock has a market capitalization of $1.82 billion, a PE ratio of 14.98, a P/E/G ratio of 2.46 and a beta of 0.67. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $86.96. The business has a 50-day moving average of $78.00 and a 200 day moving average of $69.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

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 the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analysts' expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.Spectrum Brands's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend 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 is presently 35.88%.

Insider Buying and Selling

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares of the company's stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is owned by insiders.

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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