American Trust purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB – Get Rating) in the first quarter, Holdings Channel reports. The firm purchased 2,267 shares of the company's stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company's stock worth $45,000 after purchasing an additional 121 shares in the last quarter. Quent Capital LLC bought a new position in Spectrum Brands in the 4th quarter worth $65,000. MetLife Investment Management LLC raised its holdings in Spectrum Brands by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company's stock worth $78,000 after purchasing an additional 800 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Spectrum Brands in the 4th quarter worth $87,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Spectrum Brands by 218.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,613 shares of the company's stock worth $164,000 after purchasing an additional 1,107 shares in the last quarter.
Get Spectrum Brands alerts:Spectrum Brands Stock Performance
Shares of NYSE SPB opened at $47.49 on Tuesday. The firm's 50-day moving average price is $66.35 and its 200-day moving average price is $79.18. The company has a quick ratio of 2.02, a current ratio of 2.66 and a debt-to-equity ratio of 2.45. The company has a market cap of $1.94 billion, a PE ratio of 18.62 and a beta of 1.30. Spectrum Brands Holdings, Inc. has a 52-week low of $46.57 and a 52-week high of $107.22.
Spectrum Brands (NYSE:SPB – Get Rating) last announced its quarterly earnings results on Friday, August 12th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). The company had revenue of $818.00 million for the quarter, compared to analysts' expectations of $917.88 million. Spectrum Brands had a net margin of 3.41% and a return on equity of 3.80%. The business's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 EPS. As a group, analysts anticipate that Spectrum Brands Holdings, Inc. will post 1.27 EPS for the current year.Spectrum Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Tuesday, August 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, August 29th. Spectrum Brands's payout ratio is presently 65.88%.
Analyst Ratings Changes
Several brokerages have commented on SPB. Raymond James began coverage on shares of Spectrum Brands in a report on Tuesday, July 12th. They issued a "market perform" rating for the company. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $95.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday. UBS Group decreased their price target on shares of Spectrum Brands from $109.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, August 15th. Royal Bank of Canada cut their price objective on shares of Spectrum Brands from $120.00 to $109.00 and set an "outperform" rating on the stock in a research report on Monday, August 15th. Finally, Oppenheimer cut their price objective on shares of Spectrum Brands from $125.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Spectrum Brands has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.
About Spectrum Brands
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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.
Further Reading
- Get a free copy of the StockNews.com research report on Spectrum Brands (SPB)
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