Confluence Investment Management LLC Makes New $12.81 Million Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Confluence Investment Management LLC acquired a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 143,958 shares of the company’s stock, valued at approximately $12,814,000. Confluence Investment Management LLC owned approximately 0.48% of Spectrum Brands at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SPB. CI Investments Inc. acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at about $149,000. Dark Forest Capital Management LP acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at about $1,152,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at about $13,127,000. Federated Hermes Inc. raised its stake in shares of Spectrum Brands by 164,450.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,291 shares of the company’s stock valued at $258,000 after purchasing an additional 3,289 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Spectrum Brands by 1,803.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,119 shares of the company’s stock valued at $7,688,000 after purchasing an additional 92,964 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPB. Oppenheimer increased their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $86.00 to $92.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.86.

Spectrum Brands Trading Up 1.5 %

Spectrum Brands stock opened at $91.03 on Wednesday. The stock has a market capitalization of $2.65 billion, a PE ratio of 1.84, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. The firm has a 50 day simple moving average of $87.24 and a 200-day simple moving average of $83.25.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. The firm had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, May 24th. Spectrum Brands’s payout ratio is 3.40%.

Spectrum Brands Company Profile

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.