Ancora Advisors LLC Has $2.60 Million Stock Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Ancora Advisors LLC increased its holdings in Spectrum Brands Holdings Inc. by 33.5%, owning 36,310 shares valued at approximately $2.6 million after acquiring 9,110 shares in the first quarter.
• The company reported quarterly earnings of $1.24 per share, missing analysts' estimates, and had a revenue drop of 10.2% year-over-year.
• Spectrum Brands announced a quarterly dividend of $0.47 to be paid on September 23rd, representing an annualized dividend yield of 3.4%.

Ancora Advisors LLC increased its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 33.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,310 shares of the company's stock after buying an additional 9,110 shares during the quarter. Ancora Advisors LLC owned 0.14% of Spectrum Brands worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPB. Versant Capital Management Inc grew its holdings 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 valued at $69,000 after buying an additional 489 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Spectrum Brands during the first quarter valued at $118,000. Lazard Asset Management LLC grew its holdings 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 valued at $123,000 after buying an additional 692 shares in the last quarter. Quarry LP purchased a new position in shares of Spectrum Brands during the first quarter valued at $157,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Spectrum Brands during the first quarter valued at $253,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SPB shares. Canaccord Genuity Group lowered their price target on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Wells Fargo & Company lowered their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. 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. Finally, Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.80.

Spectrum Brands Stock Down 2.7%

Shares of NYSE:SPB traded down $1.48 on Wednesday, reaching $54.49. The company had a trading volume of 68,687 shares, compared to its average volume of 534,932. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The stock has a 50-day moving average price of $56.23 and a 200 day moving average price of $60.83. The stock has a market capitalization of $1.32 billion, a P/E ratio of 20.35 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results 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 return on equity of 5.27% and a net margin of 2.56%.The company had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the firm earned $1.13 EPS. Spectrum Brands's quarterly revenue was down 10.2% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. Spectrum Brands's payout ratio is currently 70.15%.

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.