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

Manning & Napier Advisors LLC grew its stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Manning & Napier Advisors LLC owned 0.76% of Spectrum Brands worth $14,310,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $50,000. Versant Capital Management Inc grew its holdings in shares of Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock valued at $69,000 after acquiring an additional 489 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock valued at $123,000 after acquiring an additional 692 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Spectrum Brands in the 1st quarter valued at about $253,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Spectrum Brands by 13.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock valued at $275,000 after acquiring an additional 396 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Monness Crespi & Hardt lowered their target price on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. UBS Group boosted their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reduced their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.17.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the sale, the chief executive officer now owns 718,427 shares in the company, valued at $45,814,089.79. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by insiders.

Spectrum Brands Stock Performance

SPB traded up $0.47 during trading on Monday, hitting $52.57. The stock had a trading volume of 522,726 shares, compared to its average volume of 425,846. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.34 and a quick ratio of 1.40. Spectrum Brands Holdings Inc. has a one year low of $50.76 and a one year high of $96.62. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 25.15 and a beta of 0.94. The company has a 50 day moving average price of $59.45 and a 200-day moving average price of $71.98.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $701.00 million. During the same period last year, the firm posted $1.62 EPS. Spectrum Brands's quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.58%. Spectrum Brands's dividend payout ratio (DPR) is currently 89.95%.

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.