Spectrum Brands Holdings Inc. $SPB Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 449.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,670 shares of the company’s stock after purchasing an additional 17,728 shares during the quarter. Corient Private Wealth LLC’s holdings in Spectrum Brands were worth $1,280,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in Spectrum Brands by 7,237.5% in the 3rd 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. lifted its stake in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after acquiring an additional 335 shares during the period. Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position in shares of Spectrum Brands during the third quarter valued at approximately $51,000.

Insider Activity

In related news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SPB shares. Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Wall Street Zen lowered Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Canaccord Genuity Group decreased their target price on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.00.

Spectrum Brands Stock Up 0.7%

SPB stock opened at $86.36 on Thursday. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $88.14. The company’s 50 day simple moving average is $81.45 and its 200-day simple moving average is $74.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The firm has a market capitalization of $1.99 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.69 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last announced its 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 company had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. As a group, equities research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio is 35.88%.

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.