Parkwood LLC Buys 12,406 Shares of Spectrum Brands Holdings Inc. $SPB

Key Points

• Parkwood LLC increased its holdings in Spectrum Brands Holdings Inc. by 9.9%, owning a total of 137,524 shares worth approximately $9.84 million at the end of the recent reporting period.
• Spectrum Brands reported a quarterly EPS of $1.24, missing expectations by $0.01, and experienced a 10.2% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.47 per share, with a payout ratio of 70.15%, representing an annualized yield of 3.3%.

Parkwood LLC raised its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,524 shares of the company's stock after acquiring an additional 12,406 shares during the quarter. Parkwood LLC owned approximately 0.52% of Spectrum Brands worth $9,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 101.7% during the first quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after purchasing an additional 489 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Spectrum Brands during the 1st quarter worth about $118,000. Lazard Asset Management LLC boosted its stake in shares of Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares during the last quarter. Quarry LP bought a new position in shares of Spectrum Brands in the 1st quarter valued at about $157,000. Finally, Amundi acquired a new position in Spectrum Brands during the first quarter valued at approximately $176,000.

Spectrum Brands Stock Performance

NYSE SPB traded up $1.15 on Thursday, reaching $54.96. The stock had a trading volume of 346,805 shares, compared to its average volume of 535,343. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The company has a market cap of $1.33 billion, a P/E ratio of 20.51 and a beta of 0.83. The firm has a fifty day moving average of $56.18 and a two-hundred day moving average of $60.78. Spectrum Brands Holdings Inc. has a 1-year low of $50.73 and a 1-year high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The business had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. During the same period in the previous year, the firm posted $1.13 EPS. The company's revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.4%. Spectrum Brands's dividend payout ratio (DPR) is currently 70.15%.

Analyst Ratings Changes

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