Hsbc Holdings PLC Invests $3.17 Million in Spectrum Brands Holdings Inc. $SPB

Hsbc Holdings PLC acquired a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the first quarter, HoldingsChannel reports. The firm acquired 43,257 shares of the company’s stock, valued at approximately $3,171,000.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Spectrum Brands by 374,119.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after purchasing an additional 2,196,079 shares during the period. Callodine Capital Management LP increased its holdings in Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after buying an additional 350,261 shares during the period. Balyasny Asset Management L.P. bought a new stake in Spectrum Brands in the 2nd quarter valued at $15,409,000. Qube Research & Technologies Ltd raised its stake in shares of Spectrum Brands by 71.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock valued at $28,606,000 after buying an additional 224,481 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Spectrum Brands during the 2nd quarter worth about $7,317,000.

Wall Street Analyst Weigh In

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

Spectrum Brands Stock Up 1.7%

Shares of NYSE SPB opened at $88.91 on Friday. 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. The business has a fifty day moving average of $82.98 and a two-hundred day moving average of $77.36. The stock has a market cap of $2.04 billion, a PE ratio of 16.97, a PEG ratio of 2.79 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping 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 net margin of 4.47% and a return on equity of 8.23%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

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

Insiders Place Their Bets

In other news, CEO David M. Maura acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

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.