Bank of Nova Scotia Makes New $3.97 Million Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bank of Nova Scotia purchased a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 47,000 shares of the company's stock, valued at approximately $3,971,000. Bank of Nova Scotia owned 0.17% of Spectrum Brands as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SPB. Pzena Investment Management LLC grew its holdings in shares of Spectrum Brands by 1.7% in the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock worth $112,654,000 after acquiring an additional 22,484 shares during the period. State Street Corp increased its position in shares of Spectrum Brands by 1.3% during the 3rd quarter. State Street Corp now owns 590,222 shares of the company's stock valued at $56,154,000 after purchasing an additional 7,783 shares during the last quarter. FIL Ltd lifted its stake in shares of Spectrum Brands by 8.7% in the 4th quarter. FIL Ltd now owns 461,568 shares of the company's stock worth $38,998,000 after purchasing an additional 36,798 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after buying an additional 7,198 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Spectrum Brands by 2.0% during the fourth quarter. Sei Investments Co. now owns 211,412 shares of the company's stock valued at $17,862,000 after buying an additional 4,050 shares during the last quarter.

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Spectrum Brands Price Performance

SPB stock traded down $0.93 during mid-day trading on Tuesday, hitting $60.41. The company had a trading volume of 430,793 shares, compared to its average volume of 403,440. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.70 and a beta of 1.03. The company has a 50-day moving average price of $71.69 and a 200 day moving average price of $82.81. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a 12-month low of $57.93 and a 12-month high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business posted $0.78 EPS. On average, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. Spectrum Brands's dividend payout ratio (DPR) is presently 46.19%.

Analysts Set New Price Targets

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

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.