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

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 raised its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 33.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,310 shares of the company's stock after acquiring an additional 9,110 shares during the quarter. Ancora Advisors LLC owned approximately 0.14% of Spectrum Brands worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Pullen Investment Management LLC grew its position in Spectrum Brands by 2.8% in the 1st quarter. Pullen Investment Management LLC now owns 12,361 shares of the company's stock valued at $884,000 after acquiring an additional 333 shares during the last quarter. Humankind Investments LLC lifted its holdings in shares of Spectrum Brands by 7.5% in the 4th quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock worth $431,000 after buying an additional 355 shares during the period. Wealth Enhancement Advisory Services LLC lifted 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 worth $275,000 after buying an additional 396 shares during the period. Versant Capital Management Inc lifted 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 worth $69,000 after buying an additional 489 shares during the period. Finally, Lazard Asset Management LLC lifted 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 worth $123,000 after buying an additional 692 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Monness Crespi & Hardt lowered their target price on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Wells Fargo & Company lowered their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an "outperform" rating in a research note on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $74.80.

Spectrum Brands Stock Up 2.0%

NYSE:SPB traded up $1.13 during mid-day trading on Friday, hitting $56.93. 292,557 shares of the company's stock traded hands, compared to its average volume of 424,530. The company has a fifty day moving average of $56.17 and a 200 day moving average of $61.03. Spectrum Brands Holdings Inc. has a twelve month low of $50.73 and a twelve month high of $96.62. The company has a market capitalization of $1.38 billion, a P/E ratio of 21.24 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) 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 business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the company earned $1.13 earnings per share. The company's quarterly revenue was down 10.2% on a year-over-year basis. On average, analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's payout ratio is currently 70.15%.

Spectrum Brands Company 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.