Asset Management One Co. Ltd. Boosts Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Asset Management One Co. Ltd. lifted its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 97.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,089 shares of the company’s stock after acquiring an additional 1,526 shares during the period. Asset Management One Co. Ltd.’s holdings in Spectrum Brands were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SPB. Nomura Asset Management Co. Ltd. raised its holdings in shares of Spectrum Brands by 53.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after acquiring an additional 160 shares during the period. Captrust Financial Advisors raised its holdings in shares of Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after acquiring an additional 121 shares during the period. Fifth Third Bancorp purchased a new stake in Spectrum Brands in the 4th quarter valued at about $71,000. MetLife Investment Management LLC raised its holdings in Spectrum Brands by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after buying an additional 800 shares during the period. Finally, USA Financial Formulas purchased a new stake in Spectrum Brands in the 3rd quarter valued at about $101,000.

Analyst Ratings Changes

SPB has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a 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 objective for the company from $83.00 to $86.00 in a report on Friday, February 9th. Royal Bank of Canada boosted 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. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $89.17.

Spectrum Brands Stock Down 0.8 %

Shares of NYSE:SPB opened at $80.07 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75. The firm has a market capitalization of $2.42 billion, a PE ratio of 1.74, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20. The firm’s 50-day moving average is $83.62 and its two-hundred day moving average is $78.83. Spectrum Brands Holdings, Inc. has a 1 year low of $63.64 and a 1 year high of $89.64.

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

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio is presently 3.65%.

Spectrum Brands Profile

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.