Natixis Lowers Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Natixis lowered its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 34.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,044 shares of the company's stock after selling 18,031 shares during the period. Natixis owned approximately 0.12% of Spectrum Brands worth $2,876,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPB. Pzena Investment Management LLC lifted its position in Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after purchasing an additional 22,484 shares during the period. Callodine Capital Management LP raised its stake in Spectrum Brands by 29.8% during the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after buying an additional 121,000 shares during the last quarter. FIL Ltd lifted its holdings in shares of Spectrum Brands by 8.7% during the 4th quarter. FIL Ltd now owns 461,568 shares of the company's stock valued at $38,998,000 after buying an additional 36,798 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Spectrum Brands by 1.6% in the 4th 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, Gamco Investors INC. ET AL grew its holdings in shares of Spectrum Brands by 7.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 223,423 shares of the company's stock worth $18,877,000 after acquiring an additional 15,703 shares during the period.

Wall Street Analyst Weigh In

SPB has been the topic of several recent research reports. Canaccord Genuity Group upgraded shares of 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 note on Friday, February 7th. Wells Fargo & Company dropped their price objective on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their price objective 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. Finally, UBS Group lowered their target price on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two equities 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.43.

Spectrum Brands Price Performance

NYSE SPB traded up $0.36 during trading on Friday, hitting $62.64. 298,481 shares of the stock traded hands, compared to its average volume of 409,644. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.65 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Spectrum Brands Holdings, Inc. has a 12-month low of $57.66 and a 12-month high of $96.74. The firm has a 50-day simple moving average of $68.97 and a 200-day simple moving average of $81.13.

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, beating analysts' consensus estimates 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 in the prior year, the business earned $0.78 EPS. As a group, analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 3.00%. 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.