Manning & Napier Advisors LLC Purchases 45,000 Shares of Spectrum Brands Holdings Inc. $SPB

Manning & Napier Advisors LLC raised its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,000 shares of the company’s stock after acquiring an additional 45,000 shares during the quarter. Manning & Napier Advisors LLC owned approximately 1.14% of Spectrum Brands worth $14,446,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPB. GAMMA Investing LLC raised its stake in Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Headlands Technologies LLC bought a new position in shares of Spectrum Brands during the second quarter worth $41,000. SJS Investment Consulting Inc. purchased a new position in Spectrum Brands during the third quarter valued at $47,000. State of Alaska Department of Revenue purchased a new stake in Spectrum Brands in the 3rd quarter worth $49,000. Finally, Blue Trust Inc. boosted its holdings in shares of Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after purchasing an additional 328 shares during the last quarter.

Spectrum Brands Stock Performance

NYSE:SPB opened at $63.88 on Wednesday. The firm has a market capitalization of $1.49 billion, a PE ratio of 16.13 and a beta of 0.69. The stock’s fifty day moving average is $58.79 and its 200 day moving average is $56.30. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $87.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. The business had revenue of $733.50 million for the quarter, compared to analysts’ expectations of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. On average, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s payout ratio is 47.47%.

Analyst Ratings Changes

SPB has been the topic of several research reports. Canaccord Genuity Group lifted their target price on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Wells Fargo & Company boosted their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 14th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Spectrum Brands Profile

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.