Gabelli Funds LLC Boosts Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Gabelli Funds LLC grew its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 217.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,594 shares of the company’s stock after purchasing an additional 113,470 shares during the period. Gabelli Funds LLC’s holdings in Spectrum Brands were worth $14,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SPB. Raymond James Financial Services Advisors Inc. acquired a new position in Spectrum Brands in the fourth quarter valued at approximately $1,424,000. Assenagon Asset Management S.A. lifted its holdings in Spectrum Brands by 46.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 95,372 shares of the company’s stock valued at $7,608,000 after acquiring an additional 30,171 shares during the last quarter. Fifth Third Bancorp acquired a new position in Spectrum Brands in the fourth quarter valued at approximately $71,000. Oak Thistle LLC acquired a new position in Spectrum Brands in the fourth quarter valued at approximately $1,001,000. Finally, Asset Management One Co. Ltd. lifted its holdings in Spectrum Brands by 97.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,089 shares of the company’s stock valued at $249,000 after acquiring an additional 1,526 shares during the last quarter.

Spectrum Brands Trading Up 3.8 %

NYSE:SPB traded up $3.11 during trading hours on Friday, reaching $86.00. 432,719 shares of the stock were exchanged, compared to its average volume of 400,698. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The business has a 50-day moving average of $87.49 and a two-hundred day moving average of $84.64. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 1.74, a PEG ratio of 0.38 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data 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. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, May 24th. Spectrum Brands’s dividend payout ratio is currently 3.40%.

Analyst Ratings Changes

A number of research firms recently commented on SPB. Deutsche Bank Aktiengesellschaft upped their price objective on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a report on Friday, May 10th. Canaccord Genuity Group decreased their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Monness Crespi & Hardt upped their price target on Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a research note on Friday, June 7th. Finally, Oppenheimer upped their price target on Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.43.

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.