Spectrum Brands Holdings Inc. $SPB Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 35.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,792,765 shares of the company’s stock after acquiring an additional 473,345 shares during the period. American Century Companies Inc. owned 7.41% of Spectrum Brands worth $95,017,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Blue Trust Inc. grew its stake in Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after purchasing an additional 328 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Spectrum Brands by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after buying an additional 215 shares during the last quarter. Quarry LP bought a new stake in Spectrum Brands in the first quarter valued at about $157,000. Finally, Amundi acquired a new stake in Spectrum Brands during the first quarter valued at approximately $176,000.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research report on Wednesday, November 19th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Finally, Royal Bank Of Canada set a $75.00 target price on shares of Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $77.00.

Spectrum Brands Price Performance

Shares of SPB opened at $58.88 on Wednesday. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $96.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 1.41. The stock has a fifty day moving average price of $53.97 and a 200 day moving average price of $55.52. The company has a market cap of $1.38 billion, a P/E ratio of 14.87 and a beta of 0.82.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. The company had revenue of $733.50 million for the quarter, compared to analysts’ expectations of $738.57 million. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. On average, research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be given a $0.47 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.88 annualized dividend and a yield of 3.2%. Spectrum Brands’s dividend payout ratio is 47.47%.

About Spectrum Brands

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.