80,000 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 80,000 shares of the company’s stock, valued at approximately $6,874,000.

Several other large investors also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. bought a new position in Spectrum Brands during the fourth quarter valued at $1,424,000. Fifth Third Bancorp bought a new position in Spectrum Brands during the fourth quarter valued at $71,000. Asset Management One Co. Ltd. increased its position in Spectrum Brands by 97.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,089 shares of the company’s stock valued at $249,000 after acquiring an additional 1,526 shares during the last quarter. International Assets Investment Management LLC increased its position in Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Spectrum Brands during the fourth quarter valued at $79,000.

Wall Street Analyst Weigh In

SPB has been the topic of a number of analyst reports. Oppenheimer boosted their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday. Monness Crespi & Hardt boosted their target price on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group lowered their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Stock Down 2.9 %

NYSE:SPB traded down $2.64 during mid-day trading on Friday, reaching $87.82. The company’s stock had a trading volume of 672,934 shares, compared to its average volume of 428,256. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The stock has a fifty day moving average of $86.14 and a 200-day moving average of $85.04. The firm has a market capitalization of $2.46 billion, a PE ratio of 1.78, a price-to-earnings-growth ratio of 0.36 and a beta of 1.19. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business had revenue of $779.40 million during the quarter, compared to analysts’ expectations of $750.97 million. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

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.