Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,480 shares of the company’s stock after purchasing an additional 860 shares during the quarter. Federated Hermes Inc.’s holdings in Spectrum Brands were worth $901,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. LSV Asset Management grew its holdings in shares of Spectrum Brands by 68.9% in the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after purchasing an additional 304,217 shares in the last quarter. Norges Bank acquired a new position in shares of Spectrum Brands in the fourth quarter worth $20,652,000. Pzena Investment Management LLC grew its stake in shares of Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock worth $117,091,000 after acquiring an additional 234,784 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Spectrum Brands during the first quarter worth $12,814,000. Finally, Gabelli Funds LLC raised its stake in shares of Spectrum Brands by 217.7% in the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock valued at $14,740,000 after acquiring an additional 113,470 shares in the last quarter.

Spectrum Brands Stock Up 0.6 %

SPB opened at $93.53 on Monday. The stock has a market capitalization of $2.62 billion, a P/E ratio of 1.89, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The business’s 50-day simple moving average is $88.76 and its 200-day simple moving average is $87.27.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The firm had revenue of $779.40 million during the quarter, compared to analysts’ expectations of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. Spectrum Brands’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.80%. Spectrum Brands’s dividend payout ratio is presently 3.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. UBS Group raised their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group lowered their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands presently has a consensus rating of “Hold” and a consensus price target of $101.88.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.