Pzena Investment Management LLC Sells 57,537 Shares of Spectrum Brands Holdings Inc. $SPB

Pzena Investment Management LLC lessened its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,401,948 shares of the company’s stock after selling 57,537 shares during the period. Pzena Investment Management LLC owned 10.32% of Spectrum Brands worth $141,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Spectrum Brands by 18.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,043 shares of the company’s stock valued at $239,000 after purchasing an additional 641 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after purchasing an additional 140 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Spectrum Brands by 8.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock valued at $20,919,000 after purchasing an additional 28,569 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Spectrum Brands by 9.6% during the 4th quarter. First Eagle Investment Management LLC now owns 206,772 shares of the company’s stock valued at $12,216,000 after purchasing an additional 18,100 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Spectrum Brands has an average rating of “Moderate Buy” and an average price target of $86.20.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $75.47 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $86.96. The firm has a market capitalization of $1.75 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.67. The company’s 50-day moving average is $77.97 and its 200 day moving average is $69.16.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The company had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.5%. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

About Spectrum Brands

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.