Parkwood LLC Purchases 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 lifted its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,524 shares of the company's stock after purchasing an additional 12,406 shares during the quarter. Parkwood LLC owned 0.52% of Spectrum Brands worth $9,840,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Pullen Investment Management LLC raised its position in shares of Spectrum Brands by 2.8% during the first quarter. Pullen Investment Management LLC now owns 12,361 shares of the company's stock worth $884,000 after purchasing an additional 333 shares during the period. Humankind Investments LLC grew its holdings in shares of Spectrum Brands by 7.5% during the fourth quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock worth $431,000 after buying an additional 355 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Spectrum Brands by 13.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after buying an additional 396 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 buying an additional 489 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Spectrum Brands by 89.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares in the last quarter.

Spectrum Brands Stock Performance

NYSE:SPB traded up $0.44 on Tuesday, hitting $55.96. The company's stock had a trading volume of 284,767 shares, compared to its average volume of 401,568. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $56.23 and a two-hundred day moving average of $60.83. The firm has a market capitalization of $1.35 billion, a P/E ratio of 20.88 and a beta of 0.83. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62.

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 (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). The business had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. Spectrum Brands's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. Research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

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

Analyst Ratings Changes

SPB has been the subject of a number of research reports. 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 decreased their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an "outperform" rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group decreased their price objective on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company 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.