SG Americas Securities LLC boosted its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 478.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,500 shares of the company's stock after buying an additional 11,166 shares during the period. SG Americas Securities LLC's holdings in Spectrum Brands were worth $1,141,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Harvey Partners LLC bought a new stake in shares of Spectrum Brands during the third quarter valued at approximately $19,837,000. Verition Fund Management LLC lifted its holdings in shares of Spectrum Brands by 295.5% during the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company's stock valued at $17,388,000 after purchasing an additional 136,556 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company's stock valued at $124,715,000 after buying an additional 123,733 shares during the last quarter. Bank of Montreal Can raised its position in Spectrum Brands by 2,542.3% in the 2nd quarter. Bank of Montreal Can now owns 117,795 shares of the company's stock worth $10,862,000 after buying an additional 113,337 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company's stock valued at $201,707,000 after acquiring an additional 112,530 shares during the period.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SPB shares. Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. UBS Group cut their price target on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Canaccord Genuity Group lifted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.75.
Check Out Our Latest Analysis on SPB
Spectrum Brands Trading Down 0.6 %
Shares of NYSE SPB traded down $0.47 during trading hours on Tuesday, hitting $85.38. 411,452 shares of the company traded hands, compared to its average volume of 360,180. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 12 month low of $77.73 and a 12 month high of $96.74. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. The company's 50 day moving average price is $87.70 and its 200 day moving average price is $89.17.
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 analysts' expectations of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.
Spectrum Brands Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, November 26th. This is an increase from Spectrum Brands's previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. Spectrum Brands's dividend payout ratio (DPR) is currently 46.08%.
About Spectrum Brands
(
Free Report)
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.
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