Man Group plc Invests $19.71 Million in Spectrum Brands Holdings Inc. $SPB

Key Points

• Man Group plc acquired 229,822 shares of Spectrum Brands during the second quarter, valued at approximately $19.7 million and representing about 1% of the company.
• Spectrum Brands exceeded quarterly expectations, reporting EPS of $2.79 versus the $1.46 consensus and revenue of $753.3 million, up 7.7% year over year.
• The company declared a quarterly dividend of $0.47, equivalent to an annualized $1.88 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $98.83.

Man Group plc bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 229,822 shares of the company's stock, valued at approximately $19,707,000. Man Group plc owned approximately 1.00% of Spectrum Brands as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SPB. Jupiter Topco LLC purchased a new stake in Spectrum Brands in the 2nd quarter valued at $756,000. Hsbc Holdings PLC bought a new position in Spectrum Brands during the 2nd quarter valued at $5,208,000. Canada Pension Plan Investment Board purchased a new position in Spectrum Brands during the 2nd quarter worth $489,000. Legal & General Group Plc purchased a new position in Spectrum Brands during the 2nd quarter worth $1,870,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Spectrum Brands in the 2nd quarter worth $783,000.

Spectrum Brands Trading Down 0.3%

Shares of Spectrum Brands stock opened at $88.60 on Friday. The firm has a market cap of $2.04 billion, a PE ratio of 27.01, a P/E/G ratio of 2.80 and a beta of 0.63. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $99.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The stock has a fifty day moving average price of $87.26 and a 200-day moving average price of $81.50.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands's payout ratio is presently 57.32%.

Analysts Set New Price Targets

SPB has been the topic of a number of recent analyst reports. Oppenheimer raised their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $96.00 price objective on shares of Spectrum Brands in a research report on Monday, August 10th. Royal Bank Of Canada lowered shares of Spectrum Brands from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded Spectrum Brands from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $98.83.

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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