Assenagon Asset Management S.A. Takes $994,000 Position in Spectrum Brands Holdings Inc. $SPB

Assenagon Asset Management S.A. acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,913 shares of the company’s stock, valued at approximately $994,000. Assenagon Asset Management S.A. owned about 0.08% of Spectrum Brands at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $41,000. Blue Trust Inc. boosted its stake in Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Spectrum Brands by 13.9% in the 2nd 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 period. Finally, Raymond James Financial Inc. acquired a new stake in Spectrum Brands during the 2nd quarter worth $103,000.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $59.79 on Thursday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $87.23. The company has a 50-day simple moving average of $56.92 and a 200 day simple moving average of $55.47. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.10 and a beta of 0.73.

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

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s payout ratio is 47.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Canaccord Genuity Group increased their price objective on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

About Spectrum Brands

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.