Cerity Partners LLC Has $464,000 Stock Holdings in Spectrum Brands Holdings Inc. (NYSE:SPB)

Cerity Partners LLC lifted its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 14.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,486 shares of the company’s stock after acquiring an additional 841 shares during the quarter. Cerity Partners LLC’s holdings in Spectrum Brands were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SPB. Versant Capital Management Inc increased its stake in shares of Spectrum Brands by 101.7% in the first quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after acquiring an additional 489 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands in the first quarter worth $118,000. Lazard Asset Management LLC increased its stake in shares of Spectrum Brands by 89.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after acquiring an additional 692 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Spectrum Brands in the first quarter worth $253,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Spectrum Brands by 13.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock worth $275,000 after acquiring an additional 396 shares during the last quarter.

Spectrum Brands Trading Up 1.3%

Shares of NYSE:SPB opened at $60.27 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of 28.84 and a beta of 0.90. The stock’s 50-day moving average is $56.02 and its 200-day moving average is $66.80. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). The business had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 2.02% and a return on equity of 5.20%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 earnings per share. Equities research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Tuesday, May 27th. Spectrum Brands’s dividend payout ratio is currently 89.95%.

Insider Activity

In other news, CEO David M. Maura sold 5,180 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the sale, the chief executive officer directly owned 718,427 shares of the company’s stock, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

SPB has been the topic of several analyst reports. Canaccord Genuity Group set a $77.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research report on Wednesday, June 25th. UBS Group increased their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Monness Crespi & Hardt lowered their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their target price on shares of Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

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.