Sanctuary Advisors LLC Makes New $740,000 Investment in Spectrum Brands Holdings Inc. $SPB

Sanctuary Advisors LLC bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,042 shares of the company’s stock, valued at approximately $740,000.

Other hedge funds have also made changes to their positions in the company. Amundi acquired a new position in Spectrum Brands in the first quarter valued at approximately $176,000. Millennium Management LLC increased its stake in Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the last quarter. NewEdge Advisors LLC raised its position in Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock valued at $386,000 after purchasing an additional 3,415 shares during the period. Goldman Sachs Group Inc. raised its position in Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after purchasing an additional 114,143 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Spectrum Brands by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after purchasing an additional 6,321 shares during the last quarter.

Spectrum Brands Trading Up 0.1%

SPB opened at $88.91 on Monday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $90.60. 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 business has a fifty day simple moving average of $82.98 and a 200-day simple moving average of $77.48. The firm has a market cap of $2.04 billion, a P/E ratio of 16.97, a P/E/G ratio of 2.79 and a beta of 0.64.

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

Spectrum Brands Dividend Announcement

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

Insider Buying and Selling at Spectrum Brands

In other news, CEO David M. Maura acquired 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

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

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.