Cambria Investment Management L.P. Cuts Holdings in Spectrum Brands Holdings Inc. $SPB

Cambria Investment Management L.P. lowered its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,442 shares of the company’s stock after selling 11,642 shares during the quarter. Cambria Investment Management L.P.’s holdings in Spectrum Brands were worth $8,796,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after acquiring an additional 579 shares in the last quarter. Lido Advisors LLC raised its position in Spectrum Brands by 11.7% during the second quarter. Lido Advisors LLC now owns 7,095 shares of the company’s stock valued at $376,000 after purchasing an additional 741 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Spectrum Brands during the second quarter valued at about $41,000. Intech Investment Management LLC lifted its stake in Spectrum Brands by 10.0% during the third quarter. Intech Investment Management LLC now owns 8,608 shares of the company’s stock worth $452,000 after purchasing an additional 784 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Spectrum Brands by 19.2% in the 3rd quarter. Versant Capital Management Inc now owns 5,369 shares of the company’s stock worth $282,000 after purchasing an additional 863 shares in the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the topic of several recent research reports. Royal Bank Of Canada set a $85.00 price objective on Spectrum Brands in a research report on Friday, February 6th. Wells Fargo & Company boosted their target price on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Finally, Oppenheimer increased their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Spectrum Brands Stock Performance

NYSE SPB opened at $72.50 on Thursday. The company has a 50-day simple moving average of $71.54 and a two-hundred day simple moving average of $61.44. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $80.42. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.54 and a beta of 0.64. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $0.77 by $0.63. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $667.59 million. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. On average, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Spectrum Brands’s payout ratio is 43.42%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.