Manning & Napier Advisors LLC Purchases 35,000 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)
Manning & Napier Advisors LLC grew its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the company's stock after purchasing an additional 35,000 shares during the period. Manning & Napier Advisors LLC owned about 0.53% of Spectrum Brands worth $12,674,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company's stock worth $52,000 after purchasing an additional 261 shares during the period. Waldron Private Wealth LLC bought a new position in shares of Spectrum Brands during the third quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in shares of Spectrum Brands in the third quarter worth about $31,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Spectrum Brands by 1.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company's stock valued at $2,043,000 after acquiring an additional 345 shares during the last quarter. Finally, West Oak Capital LLC boosted its holdings in Spectrum Brands by 1.4% during the 4th quarter. West Oak Capital LLC now owns 27,359 shares of the company's stock valued at $2,312,000 after acquiring an additional 375 shares during the period.
Shares of NYSE SPB opened at $85.47 on Thursday. The firm has a fifty day simple moving average of $87.70 and a two-hundred day simple moving average of $89.17. Spectrum Brands Holdings, Inc. has a 12 month low of $77.73 and a 12 month high of $96.74. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.40 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20.
Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. Spectrum Brands's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. Equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This is a positive change from Spectrum Brands's previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. Spectrum Brands's payout ratio is currently 46.08%.
SPB has been the topic of a number of analyst reports. UBS Group decreased their price target on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.75.
Get Our Latest Stock Analysis on 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.
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 [email protected].
Before you consider Spectrum Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spectrum Brands wasn't on the list.
While Spectrum Brands currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
