Assenagon Asset Management S.A. Sells 16,815 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Assenagon Asset Management S.A. lessened its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 47.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,818 shares of the company's stock after selling 16,815 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Spectrum Brands worth $1,790,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new stake in shares of Spectrum Brands in the third quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new stake in Spectrum Brands during the first quarter valued at about $27,000. Central Pacific Bank Trust Division bought a new position in Spectrum Brands during the first quarter worth about $30,000. Versant Capital Management Inc increased its stake in shares of Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company's stock worth $37,000 after purchasing an additional 404 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Spectrum Brands in the first quarter worth about $42,000.

Analysts Set New Price Targets

Several research firms recently commented on SPB. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Finally, UBS Group increased their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $101.88.

Spectrum Brands Price Performance

Shares of SPB stock traded up $1.52 on Friday, reaching $91.14. The company's stock had a trading volume of 260,355 shares, compared to its average volume of 210,293. The company has a market capitalization of $2.55 billion, a P/E ratio of 25.75, a PEG ratio of 0.25 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. The stock's 50 day simple moving average is $91.71 and its 200-day simple moving average is $88.61. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.25). The business had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The business's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. As a group, equities analysts predict that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, August 27th. Spectrum Brands's dividend payout ratio (DPR) is currently 47.46%.

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.