Citigroup Inc. Purchases 5,641 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Citigroup Inc. lifted its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 15.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,048 shares of the company's stock after acquiring an additional 5,641 shares during the period. Citigroup Inc. owned 0.15% of Spectrum Brands worth $3,905,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SPB. Manning & Napier Advisors LLC bought a new position in shares of Spectrum Brands during the second quarter worth about $6,874,000. TCW Group Inc. grew its position in Spectrum Brands by 25.2% in the 2nd quarter. TCW Group Inc. now owns 126,861 shares of the company's stock valued at $10,901,000 after buying an additional 25,551 shares in the last quarter. Fifth Third Bancorp grew its position in Spectrum Brands by 94.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,734 shares of the company's stock valued at $149,000 after buying an additional 844 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Spectrum Brands by 4.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company's stock valued at $172,511,000 after buying an additional 79,322 shares in the last quarter. Finally, Legato Capital Management LLC grew its position in Spectrum Brands by 51.5% in the 2nd quarter. Legato Capital Management LLC now owns 11,491 shares of the company's stock valued at $987,000 after buying an additional 3,907 shares in the last quarter.

Spectrum Brands Trading Up 1.7 %

SPB stock traded up $1.58 during mid-day trading on Wednesday, reaching $95.60. 338,051 shares of the stock traded hands, compared to its average volume of 385,868. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 52-week low of $70.73 and a 52-week high of $96.74. The company has a market cap of $2.68 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.62 and a beta of 1.19. The stock's fifty day moving average is $91.47 and its 200-day moving average is $89.67.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same quarter in the prior year, the company earned $1.36 EPS. Spectrum Brands's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.97%. The ex-dividend date is Tuesday, November 26th. This is an increase from Spectrum Brands's previous quarterly dividend of $0.42. Spectrum Brands's dividend payout ratio (DPR) is 46.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPB shares. Wells Fargo & Company increased their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research report on Friday, August 9th. UBS Group upped their price target on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group upped their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Spectrum Brands currently has an average rating of "Hold" and an average target price of $102.38.

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.