Redwood Investment Management LLC Decreases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Redwood Investment Management LLC reduced its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,836 shares of the company's stock after selling 11,576 shares during the quarter. Spectrum Brands makes up about 0.5% of Redwood Investment Management LLC's holdings, making the stock its 26th largest position. Redwood Investment Management LLC owned about 0.23% of Spectrum Brands worth $6,181,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Waldron Private Wealth LLC bought a new stake in shares of Spectrum Brands in the third quarter valued at $27,000. Brooklyn Investment Group bought a new stake in shares of Spectrum Brands in the third quarter valued at $31,000. International Assets Investment Management LLC raised its stake in shares of Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company's stock valued at $45,000 after buying an additional 471 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Spectrum Brands by 92.2% in the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company's stock valued at $52,000 after buying an additional 261 shares during the period. Finally, Quarry LP raised its stake in shares of Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company's stock valued at $49,000 after buying an additional 450 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPB. Deutsche Bank Aktiengesellschaft boosted their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Canaccord Genuity Group boosted their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Monday, November 18th. UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $102.38.

Spectrum Brands Price Performance

NYSE SPB traded down $0.23 during trading on Thursday, reaching $95.37. The company's stock had a trading volume of 321,139 shares, compared to its average volume of 385,592. The stock has a market capitalization of $2.68 billion, a PE ratio of 23.38, a P/E/G ratio of 1.64 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The firm has a fifty day moving average of $91.51 and a 200 day moving average of $89.71. Spectrum Brands Holdings, Inc. has a one year low of $71.52 and a one year high of $96.74.

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

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend 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%.

About Spectrum Brands

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.