Engineers Gate Manager LP Invests $1.95 Million in Spectrum Brands Holdings Inc. $SPB

by · The Markets Daily

Engineers Gate Manager LP acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 22,732 shares of the company’s stock, valued at approximately $1,949,000.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in Spectrum Brands during the second quarter valued at $70,000. Squarepoint Ops LLC raised its stake in Spectrum Brands by 2.5% during the 2nd quarter. Squarepoint Ops LLC now owns 12,418 shares of the company’s stock worth $1,065,000 after acquiring an additional 302 shares during the period. Allworth Financial LP lifted its holdings in Spectrum Brands by 65.2% during the second quarter. Allworth Financial LP now owns 337 shares of the company’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Nykredit A S bought a new position in shares of Spectrum Brands in the second quarter worth approximately $102,000. Finally, Corient Private Wealth LP increased its stake in shares of Spectrum Brands by 8.6% in the second quarter. Corient Private Wealth LP now owns 26,002 shares of the company’s stock worth $2,230,000 after purchasing an additional 2,064 shares in the last quarter.

Wall Street Analyst Weigh In

SPB has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wall Street Zen raised Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Wells Fargo & Company increased their target price on Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Finally, Oppenheimer lifted their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Hold” and an average price target of $98.83.

Check Out Our Latest Stock Report on Spectrum Brands

Spectrum Brands Price Performance

SPB stock opened at $85.51 on Wednesday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $99.06. The firm has a market capitalization of $1.97 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. The company has a fifty day simple moving average of $87.80 and a two-hundred day simple moving average of $82.43. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Spectrum Brands (NYSE:SPB – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. The firm had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. Analysts anticipate that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands’s payout ratio is presently 57.32%.

Spectrum Brands Profile

(Free Report)

Spectrum Brands Holdings, Inc (NYSE: SPB) is a global branded consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes products for household, personal care and pet-care needs, selling through mass retailers, specialty stores, e-commerce channels and other outlets.

Its portfolio has included well-known brands such as Remington personal-care products, Black+Decker-branded small appliances under license, Russell Hobbs and Farberware kitchen products, and Pfister plumbing products.

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