Acadian Asset Management LLC Buys 95,095 Shares of Spectrum Brands Holdings Inc. $SPB

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

Several other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc raised its stake 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 buying an additional 489 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands in the 1st quarter valued at $118,000. Lazard Asset Management LLC raised its stake 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 buying an additional 692 shares in the last quarter. Quarry LP acquired a new position in shares of Spectrum Brands in the 1st quarter valued at $157,000. Finally, Amundi acquired a new position in shares of Spectrum Brands in the 1st quarter valued at $176,000.

Spectrum Brands Stock Up 3.1%

Shares of NYSE:SPB traded up $1.64 during midday trading on Thursday, hitting $54.40. The stock had a trading volume of 131,091 shares, compared to its average volume of 528,724. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The business's 50-day simple moving average is $55.89 and its 200-day simple moving average is $59.91. The company has a market cap of $1.32 billion, a P/E ratio of 20.30 and a beta of 0.83.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. 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 prior year, the business posted $1.13 earnings per share. Spectrum Brands's quarterly revenue was down 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's payout ratio is 70.15%.

Analyst Ratings Changes

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