Spectrum Brands Holdings Inc. $SPB Shares Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC increased its stake in Spectrum Brands Holdings Inc. by 48.3% during the first quarter, owning 16,767 shares valued at $1.2 million.
• Spectrum Brands reported $1.24 EPS for the most recent quarter, missing analyst estimates of $1.25, with a revenue decline of 10.2% year-over-year.
• The company announced a $0.47 quarterly dividend, representing an annualized dividend yield of 3.3%, with a payout ratio of 70.15%.

CW Advisors LLC boosted its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 48.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,767 shares of the company's stock after purchasing an additional 5,458 shares during the quarter. CW Advisors LLC owned approximately 0.06% of Spectrum Brands worth $1,200,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 101.7% in the first quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after purchasing an additional 489 shares during the period. New York State Teachers Retirement System acquired a new position in Spectrum Brands in the first quarter worth $118,000. Lazard Asset Management LLC boosted its holdings in Spectrum Brands by 89.6% in 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 during the period. Pallas Capital Advisors LLC acquired a new position in Spectrum Brands in the first quarter worth $253,000. Finally, Blueshift Asset Management LLC acquired a new position in Spectrum Brands in the first quarter worth $258,000.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $56.9390 on Tuesday. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two week high of $96.62. The firm's 50-day simple moving average is $55.50 and its 200 day simple moving average is $62.40. 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 stock has a market cap of $1.38 billion, a P/E ratio of 21.25 and a beta of 0.86.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company had revenue of $699.60 million for the quarter, compared to the consensus estimate of $742.13 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Spectrum Brands's revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's payout ratio is currently 70.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on SPB shares. UBS Group lifted their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Wells Fargo & Company reduced 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. Finally, Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding SPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.