Manning & Napier Advisors LLC Purchases 50,000 Shares of Spectrum Brands Holdings Inc. (NYSE:SPB)

Manning & Napier Advisors LLC raised its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,000 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.76% of Spectrum Brands worth $14,310,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SPB. Steward Partners Investment Advisory LLC bought a new position in Spectrum Brands in the 4th quarter valued at $50,000. Versant Capital Management Inc raised its position 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 acquiring an additional 489 shares during the last quarter. Lazard Asset Management LLC raised its position 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 acquiring an additional 692 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Spectrum Brands during the first quarter worth $253,000. Finally, Wealth Enhancement Advisory Services LLC raised its position 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 acquiring an additional 396 shares during the last quarter.

Spectrum Brands Trading Down 0.8%

Shares of Spectrum Brands stock traded down $0.41 during trading on Wednesday, reaching $51.98. 866,418 shares of the company were exchanged, compared to its average volume of 427,163. The company has a quick ratio of 1.40, a current ratio of 2.34 and a debt-to-equity ratio of 0.34. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The business has a 50-day moving average price of $59.11 and a 200-day moving average price of $71.55. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 24.87 and a beta of 0.93.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The business had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter last year, the company earned $1.62 earnings per share. The firm's revenue was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a $0.47 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.62%. Spectrum Brands's dividend payout ratio (DPR) is currently 89.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Canaccord Genuity Group dropped their target price on Spectrum Brands from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their target price on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Monness Crespi & Hardt dropped their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Spectrum Brands presently has an average rating of "Moderate Buy" and an average target price of $85.00.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the sale, the chief executive officer now directly owns 718,427 shares in the company, valued at $45,814,089.79. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.60% of the company's stock.

Spectrum Brands Profile

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.