Canada Pension Plan Investment Board Makes New $489,000 Investment in Spectrum Brands Holdings Inc. $SPB

Canada Pension Plan Investment Board acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 5,700 shares of the company’s stock, valued at approximately $489,000.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Spectrum Brands during the 2nd quarter valued at $27,000. Allworth Financial LP acquired a new stake in Spectrum Brands in the second quarter worth $29,000. Northwestern Mutual Wealth Management Co. grew its holdings in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares in the last quarter.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $89.26 on Thursday. The firm has a market capitalization of $2.05 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. The firm has a fifty day simple moving average of $87.52 and a two-hundred day simple moving average of $81.86. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $99.06.

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

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, August 25th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands’s dividend payout ratio (DPR) is presently 57.32%.

Analyst Ratings Changes

SPB has been the topic of several research reports. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Canaccord Genuity Group raised their target price on Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $96.00 target price on shares of Spectrum Brands in a research report on Monday, August 10th. Wells Fargo & Company upped their price target on Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Oppenheimer increased their price target on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Spectrum Brands presently has a consensus rating of “Hold” and an average target price of $98.83.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.