Rice Hall James & Associates LLC Purchases 8,783 Shares of Spectrum Brands Holdings Inc. $SPB

Rice Hall James & Associates LLC increased its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 37.7% in the first quarter, HoldingsChannel reports. The firm owned 32,050 shares of the company’s stock after purchasing an additional 8,783 shares during the period. Rice Hall James & Associates LLC’s holdings in Spectrum Brands were worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SPB. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $31,000 after buying an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after buying an additional 310 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after buying an additional 335 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Spectrum Brands in the third quarter valued at approximately $51,000.

Spectrum Brands Stock Up 0.1%

NYSE SPB opened at $88.91 on Monday. The stock has a fifty day moving average of $82.98 and a 200-day moving average of $77.48. The stock has a market capitalization of $2.04 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $90.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.21. The business had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s payout ratio is currently 35.88%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SPB shares. Wells Fargo & Company increased their price target on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group cut their price objective on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Wall Street Zen lowered Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.50% of the company’s stock.

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.