Royce & Associates LP Lowers Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Royce & Associates LP cut its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,488 shares of the company's stock after selling 8,040 shares during the quarter. Royce & Associates LP owned 0.39% of Spectrum Brands worth $10,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its position in Spectrum Brands by 50.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company's stock worth $20,644,000 after purchasing an additional 77,835 shares during the period. TCW Group Inc. grew its holdings in Spectrum Brands by 25.2% during the second quarter. TCW Group Inc. now owns 126,861 shares of the company's stock worth $10,901,000 after acquiring an additional 25,551 shares during the period. Gabelli Funds LLC raised its position in Spectrum Brands by 217.7% in the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company's stock worth $14,740,000 after acquiring an additional 113,470 shares in the last quarter. Caxton Associates LP acquired a new stake in Spectrum Brands in the first quarter valued at $792,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Spectrum Brands during the 2nd quarter worth $3,119,000.

Spectrum Brands Price Performance

SPB stock traded down $5.64 during trading on Friday, hitting $88.22. The stock had a trading volume of 932,303 shares, compared to its average volume of 258,762. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.25 and a beta of 1.23. The company's 50 day moving average price is $91.49 and its two-hundred day moving average price is $89.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28.

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 for the quarter, missing the consensus estimate of $1.13 by ($0.16). The business had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 6.12 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. Shareholders of record on Tuesday, November 26th will be issued a $0.47 dividend. This is a boost from Spectrum Brands's previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 annualized dividend and a yield of 2.13%. Spectrum Brands's payout ratio is 41.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Finally, UBS Group boosted their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.88.

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.