441,463 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Purchased by LSV Asset Management

LSV Asset Management purchased a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the fourth quarter, Holdings Channel reports. The firm purchased 441,463 shares of the company’s stock, valued at approximately $35,216,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. acquired a new position in Spectrum Brands in the 3rd quarter valued at about $122,000. Raymond James & Associates acquired a new position in Spectrum Brands in the 3rd quarter valued at about $266,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Spectrum Brands by 31.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,863 shares of the company’s stock valued at $538,000 after purchasing an additional 1,643 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Spectrum Brands by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207,061 shares of the company’s stock worth $172,923,000 after acquiring an additional 37,810 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $726,000.

Spectrum Brands Stock Up 0.5 %

SPB stock opened at $83.67 on Monday. The company has a fifty day moving average price of $82.99 and a 200 day moving average price of $79.31. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $89.64. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 1.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. The firm had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. Spectrum Brands’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) EPS. Sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a $0.42 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.68 annualized dividend and a yield of 2.01%. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Monness Crespi & Hardt raised their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Finally, Canaccord Genuity Group cut Spectrum Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and an average price target of $89.17.

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.