Bank of Montreal Can Reduces Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bank of Montreal Can lessened its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,071 shares of the company's stock after selling 36,447 shares during the period. Bank of Montreal Can owned approximately 0.45% of Spectrum Brands worth $10,314,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in Spectrum Brands in the 4th quarter worth about $50,000. Blue Trust Inc. boosted its holdings in Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after buying an additional 375 shares during the period. KBC Group NV grew its stake in Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after buying an additional 390 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Spectrum Brands during the third quarter worth $221,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Spectrum Brands in the fourth quarter worth $237,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPB. Royal Bank of Canada dropped their price objective on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. UBS Group cut their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $80.00 to $75.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Spectrum Brands has a consensus rating of "Moderate Buy" and an average price target of $101.57.

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Spectrum Brands Price Performance

SPB traded down $0.93 during midday trading on Tuesday, hitting $60.41. The stock had a trading volume of 430,793 shares, compared to its average volume of 403,440. The company has a market cap of $1.59 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Spectrum Brands Holdings, Inc. has a 1 year low of $57.93 and a 1 year high of $96.74. The business has a fifty day moving average of $72.01 and a 200 day moving average of $82.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.02 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 6.44%. During the same quarter last year, the company posted $0.78 EPS. As a group, equities analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands's dividend payout ratio (DPR) 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.