LSV Asset Management Grows Position 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 boosted its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 662,475 shares of the company's stock after purchasing an additional 17,445 shares during the quarter. LSV Asset Management owned about 2.52% of Spectrum Brands worth $47,400,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LPL Financial LLC lifted its stake in Spectrum Brands by 10.1% in the fourth quarter. LPL Financial LLC now owns 7,284 shares of the company's stock valued at $615,000 after acquiring an additional 669 shares during the last quarter. Norges Bank bought a new position in Spectrum Brands during the fourth quarter worth $7,062,000. Dynamic Technology Lab Private Ltd bought a new stake in Spectrum Brands in the 4th quarter valued at $322,000. Federated Hermes Inc. increased its holdings in Spectrum Brands by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 10,703 shares of the company's stock valued at $904,000 after buying an additional 447 shares during the period. Finally, Cerity Partners LLC increased its holdings in Spectrum Brands by 100.8% in the 4th quarter. Cerity Partners LLC now owns 5,645 shares of the company's stock valued at $488,000 after buying an additional 2,834 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPB. UBS Group upped their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Monness Crespi & Hardt reduced their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Canaccord Genuity Group set a $77.00 price target on shares of Spectrum Brands and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reduced their price target 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Spectrum Brands has an average rating of "Moderate Buy" and a consensus target price of $84.17.

Spectrum Brands Price Performance

Shares of NYSE SPB traded up $1.24 during mid-day trading on Tuesday, reaching $54.18. The company had a trading volume of 598,496 shares, compared to its average volume of 514,424. 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 one year low of $50.73 and a one year high of $96.62. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 25.93 and a beta of 0.86. The business's 50-day simple moving average is $55.25 and its 200 day simple moving average is $65.22.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 2.02% and a return on equity of 5.20%. The business had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. During the same period last year, the business earned $1.62 earnings per share. The business's quarterly revenue was down 6.0% compared to the same quarter last year. On average, research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal 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 issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. Spectrum Brands's payout ratio is 89.95%.

Insider Activity

In other news, CEO David M. Maura sold 66,000 shares of the business'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 transaction of $4,324,980.00. Following the completion of the sale, the chief executive officer owned 723,607 shares in the company, valued at $47,417,966.71. The trade was a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.90% of the company's stock.

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.