Strs Ohio Makes New $1.72 Million Investment in Spectrum Brands Holdings Inc. $SPB

Key Points

• Strs Ohio acquired 23,988 shares of Spectrum Brands Holdings Inc. valued at approximately $1.716 million, representing 0.10% of the company's stock.
• Spectrum Brands recently reported earnings per share of $1.24, falling short of analyst estimates of $1.25, with a reported revenue decline of 10.2% year-over-year.
• The company announced a quarterly dividend of $0.47 per share, reflecting a dividend yield of 3.5% and a dividend payout ratio of 70.15%.

Strs Ohio purchased a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,988 shares of the company's stock, valued at approximately $1,716,000. Strs Ohio owned 0.10% of Spectrum Brands at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SPB. Versant Capital Management Inc increased its position in 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 acquiring an additional 489 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Spectrum Brands in the 1st quarter valued at approximately $118,000. Lazard Asset Management LLC grew 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 purchasing an additional 692 shares during the last quarter. Quarry LP acquired a new stake in shares of Spectrum Brands during the first quarter worth $157,000. Finally, Amundi acquired a new stake in shares of Spectrum Brands during the first quarter worth $176,000.

Spectrum Brands Trading Down 3.4%

NYSE:SPB traded down $1.83 during trading hours on Friday, reaching $52.63. 968,427 shares of the company were exchanged, compared to its average volume of 377,377. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 19.64 and a beta of 0.83. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62. The stock has a 50 day simple moving average of $55.72 and a 200 day simple moving average of $59.63.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The firm had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The company's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, 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 given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.6%. Spectrum Brands's dividend payout ratio is presently 70.15%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPB. Wells Fargo & Company dropped their price target on shares of 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. Wall Street Zen raised 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 Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group reduced their price target on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.80.

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.