Fifth Third Bancorp Takes Position in Spectrum Brands Holdings Inc. $SPB

Fifth Third Bancorp acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,870 shares of the company’s stock, valued at approximately $875,000. Fifth Third Bancorp owned about 0.05% of Spectrum Brands at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the 2nd quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Spectrum Brands in the 3rd quarter valued at approximately $51,000.

Wall Street Analyst Weigh In

SPB has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Canaccord Genuity Group dropped their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Spectrum Brands Stock Performance

SPB opened at $88.91 on Monday. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $82.98 and its two-hundred day moving average price is $77.48. The firm has a market capitalization of $2.04 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $90.60.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s payout ratio is 35.88%.

Insider Buying and Selling

In related news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by insiders.

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.