Norges Bank Acquires Shares of 83,585 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Norges Bank acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 83,585 shares of the company's stock, valued at approximately $7,062,000. Norges Bank owned approximately 0.31% of Spectrum Brands at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands during the fourth quarter valued at $50,000. Blue Trust Inc. raised its holdings in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after purchasing an additional 375 shares in the last quarter. KBC Group NV lifted its position in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after purchasing an additional 390 shares during the period. M&T Bank Corp bought a new position in Spectrum Brands during the 3rd quarter valued at $221,000. Finally, Summit Trail Advisors LLC acquired a new position in shares of Spectrum Brands during the 4th quarter valued at $237,000.

Spectrum Brands Stock Performance

SPB stock traded up $0.35 during trading hours on Monday, hitting $61.97. 6,032 shares of the stock were exchanged, compared to its average volume of 401,295. The company has a 50-day simple moving average of $72.44 and a two-hundred day simple moving average of $83.20. The firm has a market capitalization of $1.63 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.70 and a beta of 1.03. Spectrum Brands Holdings, Inc. has a 12 month low of $57.93 and a 12 month high of $96.74. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

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Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating 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 quarter in the prior year, the business posted $0.78 earnings per share. On average, analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.03%. 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

SPB has been the topic of several research reports. UBS Group dropped their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price target on Spectrum Brands from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. 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 report on Friday, February 7th. Finally, Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.