Pacer Advisors Inc. Buys New Shares in Spectrum Brands Holdings Inc. $SPB

Key Points

• Pacer Advisors Inc. opened a new position in Spectrum Brands, buying 105,650 shares valued at about $6.24 million and ending the quarter with a 0.46% stake.
• Spectrum Brands reported better-than-expected quarterly results, posting $1.25 EPS versus $1.04 expected and revenue of $708.9 million, up 4.9% year over year.
• The company also paid a quarterly dividend of $0.47 per share, which works out to an annualized yield of about 2.3%.

Pacer Advisors Inc. bought a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 105,650 shares of the company's stock, valued at approximately $6,242,000. Pacer Advisors Inc. owned 0.46% of Spectrum Brands at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Amundi acquired a new position in shares of Spectrum Brands during the 1st quarter valued at about $176,000. Millennium Management LLC boosted its position in shares of Spectrum Brands by 64.7% in the first quarter. Millennium Management LLC now owns 166,496 shares of the company's stock worth $11,913,000 after acquiring an additional 65,424 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company's stock worth $386,000 after acquiring an additional 3,415 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company's stock valued at $28,125,000 after purchasing an additional 114,143 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Spectrum Brands by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company's stock valued at $7,983,000 after purchasing an additional 6,321 shares during the period.

Spectrum Brands Stock Performance

NYSE:SPB opened at $83.16 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.64 and a beta of 0.65. The firm's fifty day simple moving average is $80.81 and its 200 day simple moving average is $73.03. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $86.96.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million during the quarter, compared to analysts' expectations of $676.45 million. During the same period in the prior year, the company earned $0.68 EPS. The firm's revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. Spectrum Brands's dividend payout ratio (DPR) is 35.88%.

Insider Activity

In related news, CEO David M. Maura bought 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. Weiss Ratings raised Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut Spectrum Brands from a "buy" rating to a "hold" rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of "Moderate Buy" and an average price target of $86.00.

Spectrum Brands 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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