Nuveen LLC Makes New $11.58 Million Investment in Spectrum Brands Holdings Inc. $SPB

Key Points

• Nuveen LLC acquired 161,836 shares of Spectrum Brands Holdings Inc., valued at approximately $11.58 million, representing a 0.62% stake in the company.
• Spectrum Brands' stock opened at $57.18 and has a market capitalization of $1.38 billion, with a reported earnings per share (EPS) of $1.24, missing analyst estimates.
• Analysts have mixed ratings on Spectrum Brands, with an average target price of $74.80 and recommendations ranging from buy to hold.

Nuveen LLC purchased a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 161,836 shares of the company's stock, valued at approximately $11,579,000. Nuveen LLC owned approximately 0.62% of Spectrum Brands at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Alberta Investment Management Corp lifted its holdings in shares of Spectrum Brands by 33.1% in the 1st 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 last quarter. LSV Asset Management increased its position in shares of Spectrum Brands by 2.7% during the first quarter. LSV Asset Management now owns 662,475 shares of the company's stock worth $47,400,000 after acquiring an additional 17,445 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Spectrum Brands by 4.0% in the 4th quarter. Systematic Financial Management LP now owns 359,748 shares of the company's stock worth $30,395,000 after buying an additional 13,743 shares during the period. Man Group plc increased its position in Spectrum Brands by 160.5% during the 4th quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after purchasing an additional 197,263 shares during the period. Finally, AQR Capital Management LLC raised its stake in Spectrum Brands by 76.4% in the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock worth $22,095,000 after buying an additional 113,238 shares in the last quarter.

Spectrum Brands Price Performance

Shares of SPB stock traded down $0.3810 during trading hours on Monday, reaching $56.9390. The company had a trading volume of 455,902 shares, compared to its average volume of 596,523. Spectrum Brands Holdings Inc. has a 12-month low of $50.73 and a 12-month high of $96.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 21.25 and a beta of 0.86. The stock has a fifty day moving average of $55.50 and a 200-day moving average of $62.40.

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

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's dividend payout ratio is presently 70.15%.

Analysts Set New Price Targets

Several research firms have recently commented on SPB. Canaccord Genuity Group reduced their price target on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an "outperform" rating in a report on Monday, August 11th. Wells Fargo & Company decreased their price objective on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Monness Crespi & Hardt dropped their target price on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.80.

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.