Oppenheimer Asset Management Inc. Makes New $237,000 Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Oppenheimer Asset Management Inc. acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,753 shares of the company’s stock, valued at approximately $237,000.

Several other large investors have also recently added to or reduced their stakes in SPB. Fidelis Capital Partners LLC bought a new position in Spectrum Brands during the 1st quarter worth $27,000. Central Pacific Bank Trust Division acquired a new stake in shares of Spectrum Brands during the 1st quarter worth $30,000. Versant Capital Management Inc grew its holdings in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Spectrum Brands during the 1st quarter worth $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands during the 2nd quarter worth $50,000.

Spectrum Brands Stock Performance

NYSE:SPB opened at $93.53 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.62 billion, a PE ratio of 1.89, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The stock’s 50-day simple moving average is $88.76 and its 200 day simple moving average is $87.27.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.25). The firm had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. Spectrum Brands’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be given a $0.42 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.68 annualized dividend and a yield of 1.80%. Spectrum Brands’s dividend payout ratio is presently 3.40%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their target price on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Royal Bank of Canada reissued an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a report on Friday, June 7th. UBS Group increased their target price on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and an average price target of $101.88.

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.