Spectrum Brands Holdings Inc. $SPB Shares Purchased by Praxis Investment Management Inc.

Praxis Investment Management Inc. increased its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 82.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,680 shares of the company’s stock after acquiring an additional 3,020 shares during the period. Praxis Investment Management Inc.’s holdings in Spectrum Brands were worth $354,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Spectrum Brands by 82.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,938 shares of the company’s stock valued at $425,000 after acquiring an additional 2,679 shares during the period. Manning & Napier Advisors LLC grew its position in shares of Spectrum Brands by 33.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock valued at $14,310,000 after acquiring an additional 50,000 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Spectrum Brands during the 1st quarter valued at about $118,000. Acadian Asset Management LLC grew its position in shares of Spectrum Brands by 1,433.7% during the 1st quarter. Acadian Asset Management LLC now owns 101,728 shares of the company’s stock valued at $7,268,000 after acquiring an additional 95,095 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Spectrum Brands during the 1st quarter valued at about $386,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPB. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Wells Fargo & Company cut their price objective on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Canaccord Genuity Group cut their price objective on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Spectrum Brands Trading Up 2.4%

Shares of Spectrum Brands stock opened at $53.61 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of 20.00 and a beta of 0.81. The stock’s 50 day simple moving average is $54.30 and its 200-day simple moving average is $56.86. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $96.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company 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 revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, August 26th. Spectrum Brands’s payout ratio is currently 70.15%.

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.