Pacer Advisors Inc. Grows Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Pacer Advisors increased its Spectrum Brands stake by 52.6% in the first quarter, reaching 161,213 shares valued at approximately $11.9 million. Several other institutional investors also expanded or initiated positions.
• Spectrum Brands reported quarterly EPS of $1.25, beating estimates of $1.04, while revenue rose 4.9% year over year to $708.9 million. Shares opened at $90.81, near their 52-week high of $91.66.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $87, while CEO David M. Maura purchased 2,500 shares; insiders own 4.5% of the company.

Pacer Advisors Inc. raised its stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 52.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,213 shares of the company's stock after buying an additional 55,563 shares during the period. Pacer Advisors Inc. owned about 0.70% of Spectrum Brands worth $11,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company's stock worth $129,779,000 after acquiring an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP grew its position in Spectrum Brands by 20.4% in the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company's stock worth $122,013,000 after acquiring an additional 350,261 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Spectrum Brands in the second quarter valued at $15,409,000. Qube Research & Technologies Ltd increased its stake in Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company's stock valued at $28,606,000 after acquiring an additional 224,481 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Spectrum Brands during the second quarter valued at about $7,317,000.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $90.81 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.09 billion, a PE ratio of 17.33, a PEG ratio of 2.79 and a beta of 0.63. The company's fifty day moving average is $84.77 and its 200 day moving average is $78.75. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $91.66.

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

Insider Buying and Selling at Spectrum Brands

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 stock was bought at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares of the company's stock, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPB. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Wells Fargo & Company increased their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group dropped their target price on Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Finally, Wall Street Zen lowered 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 three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.00.

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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