Xact Kapitalforvaltning AB raised its position in Spectrum Brands Holdings Inc (NYSE:SPB) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,143 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Xact Kapitalforvaltning AB’s holdings in Spectrum Brands were worth $344,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Benefit Street Partners LLC acquired a new stake in Spectrum Brands in the fourth quarter valued at approximately $2,037,000. HGK Asset Management Inc. acquired a new stake in Spectrum Brands in the fourth quarter valued at approximately $408,000. Gabelli Funds LLC grew its position in Spectrum Brands by 97.2% in the fourth quarter. Gabelli Funds LLC now owns 10,500 shares of the company’s stock valued at $444,000 after acquiring an additional 5,175 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Spectrum Brands in the fourth quarter valued at approximately $887,000. Finally, Oppenheimer Asset Management Inc. grew its position in Spectrum Brands by 93.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 14,820 shares of the company’s stock valued at $626,000 after acquiring an additional 7,177 shares in the last quarter. Institutional investors own 95.68% of the company’s stock.
Get Spectrum Brands alerts:SPB stock opened at $54.25 on Friday. Spectrum Brands Holdings Inc has a twelve month low of $40.54 and a twelve month high of $106.78. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.12 and a quick ratio of 0.91. The company has a market cap of $2.91 billion, a PE ratio of 15.32, a P/E/G ratio of 1.50 and a beta of 1.86.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.60). Spectrum Brands had a return on equity of 3.24% and a net margin of 3.32%. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $910.97 million. During the same period in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. On average, analysts anticipate that Spectrum Brands Holdings Inc will post 2.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, February 15th. Spectrum Brands’s payout ratio is currently 47.46%.
Several brokerages have issued reports on SPB. CIBC reaffirmed a “market perform” rating on shares of Spectrum Brands in a research report on Monday, November 19th. Wells Fargo & Co decreased their price target on shares of Spectrum Brands from $70.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, November 20th. Monness Crespi & Hardt decreased their price target on shares of Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Raymond James reissued a “buy” rating and set a $15.00 price target on shares of Spectrum Brands in a research report on Monday, December 3rd. Finally, Zacks Investment Research downgraded shares of Spectrum Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.50.
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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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