Manning & Napier Advisors LLC Increases Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Manning & Napier Advisors LLC grew its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 30.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 150,000 shares of the company’s stock after purchasing an additional 35,000 shares during the period. Manning & Napier Advisors LLC’s holdings in Spectrum Brands were worth $12,674,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SPB. Waldron Private Wealth LLC bought a new stake in Spectrum Brands during the 3rd quarter valued at about $27,000. Brooklyn Investment Group bought a new stake in shares of Spectrum Brands during the third quarter valued at approximately $31,000. International Assets Investment Management LLC raised its holdings in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after acquiring an additional 261 shares in the last quarter. Finally, Quarry LP boosted its stake in Spectrum Brands by 375.0% during the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group dropped their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average price target of $100.75.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $85.47 on Thursday. The firm’s 50 day moving average price is $87.70 and its 200-day moving average price is $89.17. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.40 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a twelve month low of $77.73 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The business had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. Equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is 46.08%.

Spectrum Brands 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.