Spectrum Brands Holdings Inc. $SPB Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its holdings in Spectrum Brands Holdings Inc. by 1,433.7%, owning 101,728 shares valued at approximately $7.27 million by the end of the first quarter.
• Spectrum Brands reported $1.24 earnings per share (EPS) for the quarter, missing analysts' estimates, with revenue down 10.2% year-over-year at $699.6 million.
• The company disclosed a quarterly dividend of $0.47, set to be paid on September 23rd, representing an annualized yield of 3.5%.

Acadian Asset Management LLC increased its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 1,433.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,728 shares of the company's stock after purchasing an additional 95,095 shares during the period. Acadian Asset Management LLC owned 0.41% of Spectrum Brands worth $7,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its position in Spectrum Brands by 165.5% in the fourth quarter. Deutsche Bank AG now owns 94,403 shares of the company's stock valued at $7,976,000 after acquiring an additional 58,852 shares during the last quarter. Lazard Asset Management LLC raised its holdings in 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 purchasing an additional 692 shares in the last quarter. Man Group plc raised its holdings in Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after purchasing an additional 197,263 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Spectrum Brands by 39.2% during the fourth quarter. Quantinno Capital Management LP now owns 55,622 shares of the company's stock worth $4,700,000 after purchasing an additional 15,650 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in Spectrum Brands during the fourth quarter worth about $1,056,000.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $53.43 on Friday. The firm's 50 day simple moving average is $56.09 and its 200-day simple moving average is $60.44. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two week high of $96.62. The company has a market cap of $1.29 billion, a P/E ratio of 19.94 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results 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). The business had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. Spectrum Brands's revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.5%. Spectrum Brands's dividend payout ratio is currently 70.15%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada set a $75.00 target price on shares of Spectrum Brands and gave the stock an "outperform" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus 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.

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