Phocas Financial Corp. Has $1.11 Million Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Phocas Financial Corp. lessened its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,073 shares of the company's stock after selling 74,119 shares during the period. Phocas Financial Corp.'s holdings in Spectrum Brands were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ieq Capital LLC bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $562,000. State of New Jersey Common Pension Fund D grew its position in shares of Spectrum Brands by 8.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 23,257 shares of the company's stock valued at $1,965,000 after acquiring an additional 1,780 shares during the period. Legato Capital Management LLC grew its position in shares of Spectrum Brands by 2.2% in the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock valued at $786,000 after acquiring an additional 198 shares during the period. Summit Trail Advisors LLC bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $237,000. Finally, Entropy Technologies LP bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $865,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPB shares. Royal Bank of Canada reduced their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. UBS Group reduced their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and lifted their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Wells Fargo & Company reduced their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.43.

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Spectrum Brands Stock Performance

Spectrum Brands stock traded up $0.29 during midday trading on Friday, hitting $77.42. The company's stock had a trading volume of 465,422 shares, compared to its average volume of 455,821. Spectrum Brands Holdings, Inc. has a 1-year low of $74.72 and a 1-year high of $96.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The company has a 50-day moving average price of $82.36 and a two-hundred day moving average price of $88.32. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands's 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.