Rice Hall James & Associates LLC Makes New $2.23 Million Investment in Spectrum Brands Holdings Inc. $SPB

Rice Hall James & Associates LLC acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,999 shares of the company's stock, valued at approximately $2,229,000. Rice Hall James & Associates LLC owned about 0.11% of Spectrum Brands at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Spectrum Brands during the second quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. raised its holdings in Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock worth $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after purchasing an additional 335 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands during the second quarter worth $41,000.

Spectrum Brands Trading Up 0.2%

Shares of SPB opened at $88.02 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.02 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63. The stock's fifty day simple moving average is $86.55 and its 200 day simple moving average is $80.54. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $99.06.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $1.33. The firm had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, equities research analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. Spectrum Brands's payout ratio is presently 57.32%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Canaccord Genuity Group upped their target price on Spectrum Brands from $99.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $96.00 price target on shares of Spectrum Brands in a report on Monday, August 10th. Wall Street Zen downgraded shares of Spectrum Brands from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Royal Bank Of Canada lowered shares of Spectrum Brands from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $85.00 to $92.00 in a report on Monday, August 10th. Finally, Oppenheimer raised their target price on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Spectrum Brands has an average rating of "Hold" and a consensus target price of $98.83.

About Spectrum Brands

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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