Gabelli Funds LLC Acquires 113,470 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Gabelli Funds LLC raised its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 217.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,594 shares of the company’s stock after buying an additional 113,470 shares during the quarter. Gabelli Funds LLC owned about 0.57% of Spectrum Brands worth $14,740,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in shares of Spectrum Brands in the 1st quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in shares of Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Spectrum Brands in the 1st quarter valued at approximately $30,000. International Assets Investment Management LLC lifted its stake in shares of Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 377 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Spectrum Brands in the 1st quarter valued at approximately $42,000.

Spectrum Brands Stock Up 3.8 %

Shares of SPB stock traded up $3.11 during mid-day trading on Friday, hitting $86.00. The company’s stock had a trading volume of 432,719 shares, compared to its average volume of 400,698. Spectrum Brands Holdings, Inc. has a 52-week low of $65.27 and a 52-week high of $96.74. The business has a 50-day moving average price of $87.49 and a 200 day moving average price of $84.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73. The stock has a market cap 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 results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Research analysts predict that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPB shares. Wells Fargo & Company lowered their target price on Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Canaccord Genuity Group lowered their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. 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 lifted their price objective on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Oppenheimer lifted their price objective on Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to 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.