Pacer Advisors Inc. Buys New Shares in Spectrum Brands Holdings Inc. $SPB

Pacer Advisors Inc. bought a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 105,650 shares of the company’s stock, valued at approximately $6,242,000. Pacer Advisors Inc. owned 0.46% of Spectrum Brands at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Amundi acquired a new position in shares of Spectrum Brands during the 1st quarter valued at about $176,000. Millennium Management LLC boosted its position in shares of Spectrum Brands by 64.7% in the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after acquiring an additional 3,415 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after purchasing an additional 114,143 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Spectrum Brands by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after purchasing an additional 6,321 shares during the period.

Spectrum Brands Stock Performance

NYSE:SPB opened at $83.16 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.64 and a beta of 0.65. The firm’s fifty day simple moving average is $80.81 and its 200 day simple moving average is $73.03. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $86.96.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

Insider Activity

In related news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $86.00.

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.