Manning & Napier Advisors LLC Purchases Shares of 308,987 Spectrum Brands Holdings Inc. $SPB

Manning & Napier Advisors LLC bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 308,987 shares of the company’s stock, valued at approximately $26,496,000. Manning & Napier Advisors LLC owned about 1.34% of Spectrum Brands at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in Spectrum Brands in the 2nd quarter valued at $27,000. Allworth Financial LP bought a new position in Spectrum Brands during the 2nd quarter worth $29,000. Northwestern Mutual Wealth Management Co. increased its position in Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the period. Nomura Asset Management Co. Ltd. lifted 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. Finally, Farther Finance Advisors LLC lifted 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.

Spectrum Brands Stock Performance

SPB opened at $88.32 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06. The firm has a market cap of $2.03 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.74 and a beta of 0.63. The business’s fifty day moving average is $86.90 and its 200-day moving average is $81.17.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The business had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Spectrum Brands’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be given a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands’s payout ratio is presently 57.32%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPB. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Royal Bank Of Canada downgraded shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $85.00 to $92.00 in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.83.

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.