Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 320,854 shares of the company's stock after selling 50,043 shares during the period. Bank of New York Mellon Corp owned approximately 1.17% of Spectrum Brands worth $27,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Legato Capital Management LLC grew its position in Spectrum Brands by 2.2% in the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock valued at $786,000 after buying an additional 198 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Spectrum Brands by 92.2% in the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company's stock valued at $52,000 after acquiring an additional 261 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Spectrum Brands in the third quarter valued at about $31,000. State of New Jersey Common Pension Fund D increased its stake in shares of Spectrum Brands by 1.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company's stock worth $2,043,000 after acquiring an additional 345 shares during the period. Finally, West Oak Capital LLC raised its holdings in Spectrum Brands by 1.4% during the fourth quarter. West Oak Capital LLC now owns 27,359 shares of the company's stock worth $2,312,000 after purchasing an additional 375 shares in the last quarter.

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Spectrum Brands Price Performance

SPB stock traded down $1.26 during midday trading on Wednesday, hitting $71.98. 354,450 shares of the stock were exchanged, compared to its average volume of 447,469. The stock's 50-day moving average price is $80.92 and its 200-day moving average price is $87.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $70.36 and a fifty-two week high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands's dividend payout ratio (DPR) is presently 46.19%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPB shares. Wells Fargo & Company lowered their price objective on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. 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. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada decreased their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.43.

Spectrum Brands Company 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.