Gamco Investors INC. ET AL Increases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Gamco Investors INC. ET AL raised its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 19.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 110,946 shares of the company’s stock after purchasing an additional 17,885 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Spectrum Brands were worth $8,659,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Spectrum Brands by 13.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,169,251 shares of the company’s stock valued at $169,310,000 after buying an additional 252,286 shares in the last quarter. Credit Suisse AG grew its holdings in Spectrum Brands by 3.5% during the 1st quarter. Credit Suisse AG now owns 48,243 shares of the company’s stock valued at $3,195,000 after buying an additional 1,639 shares in the last quarter. Retirement Group LLC grew its holdings in Spectrum Brands by 149.5% during the 1st quarter. Retirement Group LLC now owns 998 shares of the company’s stock valued at $66,000 after buying an additional 598 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Spectrum Brands during the 1st quarter valued at approximately $2,647,000. Finally, Cibc World Markets Corp purchased a new position in Spectrum Brands in the first quarter worth about $198,000.

Insider Activity

In related news, EVP Ehsan Zargar bought 843 shares of the stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $82.98 per share, with a total value of $69,952.14. Following the completion of the purchase, the executive vice president now owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO David M. Maura bought 5,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was bought at an average price of $82.89 per share, for a total transaction of $414,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 693,816 shares in the company, valued at $57,510,408.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ehsan Zargar bought 843 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $82.98 per share, with a total value of $69,952.14. Following the transaction, the executive vice president now directly owns 117,335 shares of the company’s stock, valued at $9,736,458.30. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on SPB shares. Royal Bank of Canada started coverage on Spectrum Brands in a research report on Wednesday, August 23rd. They issued an “outperform” rating and a $96.00 price target for the company. Canaccord Genuity Group dropped their price target on Spectrum Brands from $94.00 to $83.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com started coverage on Spectrum Brands in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered Spectrum Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $90.00 to $73.00 in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Spectrum Brands has an average rating of “Hold” and a consensus target price of $83.80.

Spectrum Brands Price Performance

SPB stock opened at $66.15 on Tuesday. Spectrum Brands Holdings, Inc. has a 12 month low of $46.54 and a 12 month high of $85.25. The company has a current ratio of 2.23, a quick ratio of 1.94 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $76.78 and a 200 day moving average price of $76.72. The stock has a market cap of $2.36 billion, a PE ratio of 1.48, a P/E/G ratio of 0.66 and a beta of 1.36.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 17th. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.33. The firm had revenue of $740.70 million during the quarter, compared to analysts’ expectations of $739.43 million. Spectrum Brands had a net margin of 61.47% and a return on equity of 1.99%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. Equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 1.39 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, November 29th. Spectrum Brands’s dividend payout ratio is currently 3.77%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.