Allspring Global Investments Holdings LLC Has $168.20 Million Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Allspring Global Investments Holdings LLC cut its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,013,603 shares of the company's stock after selling 106,499 shares during the period. Allspring Global Investments Holdings LLC owned about 7.18% of Spectrum Brands worth $168,196,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. raised its holdings in Spectrum Brands by 15.9% in the third quarter. Citigroup Inc. now owns 41,048 shares of the company's stock worth $3,905,000 after purchasing an additional 5,641 shares during the period. Everence Capital Management Inc. acquired a new stake in Spectrum Brands in the fourth quarter worth $553,000. SG Americas Securities LLC raised its holdings in Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock worth $1,141,000 after purchasing an additional 11,166 shares during the period. International Assets Investment Management LLC raised its holdings in Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company's stock worth $45,000 after purchasing an additional 471 shares during the period. Finally, Manning & Napier Advisors LLC raised its holdings in Spectrum Brands by 30.4% in the fourth quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company's stock worth $12,674,000 after purchasing an additional 35,000 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPB. UBS Group cut their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Royal Bank of Canada dropped their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.43.

Spectrum Brands Stock Down 0.8 %

SPB stock traded down $0.67 during midday trading on Friday, hitting $77.87. The company's stock had a trading volume of 400,559 shares, compared to its average volume of 438,005. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. Spectrum Brands Holdings, Inc. has a twelve month low of $74.72 and a twelve month high of $96.74. The company's fifty day moving average price is $84.90 and its 200 day moving average price is $88.81. The stock has a market capitalization of $2.13 billion, a P/E ratio of 19.13, a PEG ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same period last year, the company posted $0.78 EPS. As a group, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.17 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.41%. Spectrum Brands's dividend payout ratio is presently 46.19%.

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.