LSV Asset Management Grows Stock Holdings in Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• LSV Asset Management increased its stake in Spectrum Brands by 2.7%, owning 662,475 shares valued at approximately $47.4 million at the end of the last reporting period.
• Spectrum Brands recently announced a $0.47 quarterly dividend, which represents an annualized dividend of $1.88 and a yield of 3.5%.
• The company's stock was down recently, posting a 12-month low of $50.73 and reporting a net margin of only 2.02%, with a significant decline in revenue of 6% compared to the previous year.

LSV Asset Management lifted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 662,475 shares of the company's stock after acquiring an additional 17,445 shares during the period. LSV Asset Management owned 2.52% of Spectrum Brands worth $47,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPB. Blueshift Asset Management LLC purchased a new stake in shares of Spectrum Brands during the first quarter worth about $258,000. Jefferies Financial Group Inc. acquired a new position in Spectrum Brands during the 1st quarter worth $1,536,000. Alberta Investment Management Corp increased its stake in shares of Spectrum Brands by 33.1% during the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after acquiring an additional 186,729 shares during the period. Wealthquest Corp bought a new position in Spectrum Brands during the first quarter valued at about $321,000. Finally, Federated Hermes Inc. lifted its stake in Spectrum Brands by 10.9% during the first quarter. Federated Hermes Inc. now owns 11,873 shares of the company's stock valued at $850,000 after purchasing an additional 1,170 shares during the last quarter.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock traded up $3.89 during midday trading on Thursday, hitting $56.81. 1,090,925 shares of the company traded hands, compared to its average volume of 549,650. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 27.18 and a beta of 0.86. The firm's fifty day moving average price is $55.17 and its 200-day moving average price is $65.13.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.11). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The company's revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. As a group, sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 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, September 23rd. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. Spectrum Brands's dividend payout ratio is presently 89.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SPB. Monness Crespi & Hardt decreased their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. UBS Group lifted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company reduced their price target on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Finally, Canaccord Genuity Group set a $77.00 price objective on shares of Spectrum Brands and gave the stock a "buy" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.17.

Insider Buying and Selling

In other news, CEO David M. Maura sold 66,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the completion of the transaction, the chief executive officer owned 723,607 shares in the company, valued at $47,417,966.71. This trade represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by insiders.

Spectrum Brands Company 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.