Pzena Investment Management LLC Has $78.15 Million Stake in Spectrum Brands Holdings Inc. $SPB

Key Points

• Pzena Investment Management LLC increased its stake in Spectrum Brands by 10.5%, owning approximately 6.01% of the company, valued at $78.15 million after purchasing additional shares.
• Spectrum Brands recently reported a loss in revenue of 10.2% year-over-year, with quarterly revenue of $699.60 million and an EPS of $1.24, slightly below analysts' expectations.
• The company declared a quarterly dividend of $0.47 per share with a yield of 3.7%, while its dividend payout ratio stands at 70.15%.

Pzena Investment Management LLC boosted its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,474,451 shares of the company's stock after buying an additional 140,418 shares during the period. Pzena Investment Management LLC owned approximately 6.01% of Spectrum Brands worth $78,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised 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 valued at $275,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC raised its holdings in shares of Spectrum Brands by 4,757.5% during the first quarter. GAMMA Investing LLC now owns 15,884 shares of the company's stock valued at $1,137,000 after purchasing an additional 15,557 shares during the period. Manning & Napier Advisors LLC raised its holdings in shares of Spectrum Brands by 33.3% during the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company's stock valued at $14,310,000 after purchasing an additional 50,000 shares during the period. Wealthquest Corp acquired a new position in shares of Spectrum Brands during the first quarter valued at about $321,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands during the first quarter valued at about $118,000.

Spectrum Brands Trading Down 2.3%

Shares of SPB stock opened at $50.34 on Monday. Spectrum Brands Holdings Inc. has a 52-week low of $50.11 and a 52-week 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 50-day simple moving average of $54.58 and a two-hundred day simple moving average of $57.44. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 18.78 and a beta of 0.81.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.27% and a net margin of 2.56%.The firm 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 company posted $1.13 earnings per share. The company's revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Spectrum Brands's dividend payout ratio is presently 70.15%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPB shares. Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Weiss Ratings reissued a "hold (c-)" rating on shares of Spectrum Brands in a research report on Wednesday, October 8th. Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Spectrum Brands has an average rating of "Moderate Buy" and a consensus price target of $73.80.

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.

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