Arizona State Retirement System Lowers Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Arizona State Retirement System lessened its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,973 shares of the company’s stock after selling 1,702 shares during the quarter. Arizona State Retirement System’s holdings in Spectrum Brands were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPB. Nomura Asset Management Co. Ltd. lifted its stake in shares of Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after purchasing an additional 160 shares during the period. Captrust Financial Advisors increased its position in Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after buying an additional 121 shares in the last quarter. Fifth Third Bancorp bought a new position in Spectrum Brands during the 4th quarter valued at approximately $71,000. MetLife Investment Management LLC increased its position in Spectrum Brands by 1,012.7% during 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 in the last quarter. Finally, USA Financial Formulas bought a new position in Spectrum Brands during the 3rd quarter valued at approximately $101,000.

Spectrum Brands Stock Down 0.5 %

Spectrum Brands stock opened at $79.08 on Thursday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 1.72, a PEG ratio of 0.54 and a beta of 1.20. The stock has a fifty day simple moving average of $83.58 and a two-hundred day simple moving average of $78.85. Spectrum Brands Holdings, Inc. has a 12 month low of $63.64 and a 12 month high of $89.64. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60.

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

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, February 16th. Spectrum Brands’s payout ratio is currently 3.65%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Royal Bank of Canada raised their price objective on Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Monness Crespi & Hardt raised their price objective on Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Finally, StockNews.com raised Spectrum Brands from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands presently has an average rating of “Hold” and an average price target of $89.17.

About Spectrum Brands

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.