Legato Capital Management LLC Purchases 3,907 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Legato Capital Management LLC boosted its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 51.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,491 shares of the company’s stock after purchasing an additional 3,907 shares during the quarter. Legato Capital Management LLC’s holdings in Spectrum Brands were worth $987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC acquired a new stake in shares of Spectrum Brands during the fourth quarter worth $3,949,000. Great Lakes Advisors LLC raised its stake in Spectrum Brands by 50.0% in the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after purchasing an additional 108,076 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Spectrum Brands by 1,615.8% in the first quarter. BNP Paribas Financial Markets now owns 55,831 shares of the company’s stock valued at $4,970,000 after purchasing an additional 52,577 shares in the last quarter. Redwood Investment Management LLC raised its stake in Spectrum Brands by 273.6% in the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock valued at $6,070,000 after purchasing an additional 55,727 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Spectrum Brands by 50.5% during the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after acquiring an additional 77,835 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on SPB shares. Canaccord Genuity Group lowered their target price on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Oppenheimer boosted their price target on Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Wells Fargo & Company boosted their price target on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Monness Crespi & Hardt boosted their price target on Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, UBS Group boosted their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Trading Up 1.1 %

Shares of NYSE:SPB traded up $1.05 during trading on Tuesday, hitting $92.99. The company had a trading volume of 146,927 shares, compared to its average volume of 421,169. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 1.87, a price-to-earnings-growth ratio of 0.32 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The company has a fifty day simple moving average of $86.34 and a two-hundred day simple moving average of $85.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. During the same period in the prior year, the business posted $0.75 earnings per share. Spectrum Brands’s revenue was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.68 annualized dividend and a yield of 1.81%. Spectrum Brands’s payout ratio is currently 3.40%.

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.