Manning & Napier Advisors LLC Purchases 35,000 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Manning & Napier Advisors LLC grew its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the company’s stock after purchasing an additional 35,000 shares during the period. Manning & Napier Advisors LLC owned about 0.53% of Spectrum Brands worth $12,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after purchasing an additional 261 shares during the period. Waldron Private Wealth LLC bought a new position in shares of Spectrum Brands during the third quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in shares of Spectrum Brands in the third quarter worth about $31,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Spectrum Brands by 1.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock valued at $2,043,000 after acquiring an additional 345 shares during the last quarter. Finally, West Oak Capital LLC boosted its holdings in Spectrum Brands by 1.4% during the 4th quarter. West Oak Capital LLC now owns 27,359 shares of the company’s stock valued at $2,312,000 after acquiring an additional 375 shares during the period.

Spectrum Brands Stock Up 0.1 %

Shares of NYSE SPB opened at $85.47 on Thursday. The firm has a fifty day simple moving average of $87.70 and a two-hundred day simple moving average of $89.17. Spectrum Brands Holdings, Inc. has a 12 month low of $77.73 and a 12 month high of $96.74. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.40 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. Spectrum Brands’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. Equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. Spectrum Brands’s payout ratio is currently 46.08%.

Analysts Set New Price Targets

SPB has been the topic of a number of analyst reports. UBS Group decreased their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.75.

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.