Pullen Investment Management LLC Buys 1,070 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Pullen Investment Management LLC raised its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 15.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,179 shares of the company’s stock after purchasing an additional 1,070 shares during the quarter. Pullen Investment Management LLC’s holdings in Spectrum Brands were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares in the last quarter. Pzena Investment Management LLC grew its stake in Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after purchasing an additional 234,784 shares in the last quarter. LSV Asset Management grew its stake in Spectrum Brands by 68.9% in the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after purchasing an additional 304,217 shares in the last quarter. Armistice Capital LLC grew its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Spectrum Brands by 50.5% in the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock valued at $20,644,000 after purchasing an additional 77,835 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SPB shares. Canaccord Genuity Group reduced their target price 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. Wells Fargo & Company lifted their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group lifted their target price on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Stock Performance

NYSE:SPB opened at $89.52 on Friday. The stock has a market cap of $2.51 billion, a P/E ratio of 25.29, a PEG ratio of 0.25 and a beta of 1.22. The stock has a 50 day simple moving average of $91.76 and a 200 day simple moving average of $88.32. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.25). The firm had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were issued a $0.42 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $1.68 annualized dividend and a yield of 1.88%. Spectrum Brands’s dividend payout ratio is presently 47.46%.

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.