ING Groep NV Buys Shares of 37,800 Spectrum Brands Holdings, Inc. (NYSE:SPB)

ING Groep NV bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,800 shares of the company's stock, valued at approximately $3,596,000. ING Groep NV owned 0.13% of Spectrum Brands at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Armistice Capital LLC increased its stake in shares of 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 buying an additional 247,809 shares during the period. Gabelli Funds LLC increased its position in Spectrum Brands by 217.7% during the 1st quarter. Gabelli Funds LLC now owns 165,594 shares of the company's stock valued at $14,740,000 after purchasing an additional 113,470 shares during the period. Bank of Montreal Can raised its holdings in Spectrum Brands by 2,542.3% during the 2nd quarter. Bank of Montreal Can now owns 117,795 shares of the company's stock worth $10,862,000 after purchasing an additional 113,337 shares during the last quarter. Algert Global LLC acquired a new position in shares of Spectrum Brands in the 2nd quarter worth approximately $9,670,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Spectrum Brands by 5.6% in the 3rd 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 during the last quarter.

Spectrum Brands Price Performance

SPB stock traded down $5.64 during mid-day trading on Friday, hitting $88.22. The company had a trading volume of 932,303 shares, compared to its average volume of 258,762. The company has a 50-day moving average price of $91.49 and a 200 day moving average price of $89.48. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. 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 company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 0.25 and a beta of 1.23.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same period in the previous year, the business earned $1.36 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a $0.47 dividend. This is a boost from Spectrum Brands's previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.13%. Spectrum Brands's dividend payout ratio (DPR) is presently 41.18%.

Analyst Upgrades and Downgrades

SPB has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of 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 shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, UBS Group increased their price target on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Spectrum Brands 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.