LSV Asset Management Decreases Holdings in Spectrum Brands Holdings Inc. $SPB

LSV Asset Management reduced its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 585,880 shares of the company’s stock after selling 21,600 shares during the quarter. LSV Asset Management owned approximately 2.42% of Spectrum Brands worth $30,776,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. American Century Companies Inc. lifted its stake in Spectrum Brands by 35.9% during the second quarter. American Century Companies Inc. now owns 1,792,765 shares of the company’s stock worth $95,017,000 after purchasing an additional 473,345 shares during the last quarter. Callodine Capital Management LP increased its stake in Spectrum Brands by 85.5% in the second quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock valued at $71,765,000 after purchasing an additional 624,057 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Spectrum Brands by 39.6% during the 2nd quarter. Geode Capital Management LLC now owns 606,272 shares of the company’s stock worth $32,137,000 after buying an additional 172,132 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Spectrum Brands by 71.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after buying an additional 224,481 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Spectrum Brands by 9.6% in the 2nd quarter. First Trust Advisors LP now owns 411,803 shares of the company’s stock valued at $21,826,000 after buying an additional 35,955 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPB shares. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Oppenheimer raised their price objective on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Wells Fargo & Company lifted 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 reissued a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Finally, Royal Bank Of Canada set a $85.00 price target on Spectrum Brands in a research note on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands has an average rating of “Moderate Buy” and an average target price of $83.00.

Spectrum Brands Stock Performance

NYSE SPB opened at $76.19 on Friday. The firm has a market cap of $1.77 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.55 and a beta of 0.68. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $80.28. The business’s 50-day moving average price is $63.93 and its 200 day moving average price is $58.04. 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 posted its quarterly earnings data on Thursday, February 5th. The company reported $1.40 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $667.59 million. During the same period in the prior year, the business earned $1.02 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio (DPR) is 43.42%.

Spectrum Brands Company 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.