Assenagon Asset Management S.A. Grows Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Assenagon Asset Management S.A. increased its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPBFree Report) by 46.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,372 shares of the company’s stock after purchasing an additional 30,171 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Spectrum Brands were worth $7,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after acquiring an additional 160 shares during the last quarter. Captrust Financial Advisors boosted its stake in Spectrum Brands by 31.7% in the first quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after acquiring an additional 121 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Spectrum Brands by 1,012.7% in the first quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the last quarter. USA Financial Formulas purchased a new position in Spectrum Brands in the third quarter valued at about $101,000. Finally, Asset Management One Co. Ltd. purchased a new position in Spectrum Brands in the third quarter valued at about $122,000.

Wall Street Analyst Weigh In

SPB has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Monness Crespi & Hardt boosted 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 lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and boosted their price target for the company from $83.00 to $86.00 in a research report on Friday, February 9th. Finally, StockNews.com raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Spectrum Brands currently has an average rating of “Hold” and an average target price of $88.86.

Read Our Latest Research Report on Spectrum Brands

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $89.01 on Friday. The firm’s 50 day simple moving average is $82.78 and its 200 day simple moving average is $78.54. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.69 billion, a PE ratio of 1.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a 1-year low of $59.42 and a 1-year high of $89.64.

Spectrum Brands (NYSE:SPBGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.47. The business had revenue of $692.20 million for the quarter, compared to analyst estimates 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 was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. As a group, analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.65%.

About Spectrum Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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