Federated Hermes Inc. Purchases 5,379 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Federated Hermes Inc. raised its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 163.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,670 shares of the company’s stock after purchasing an additional 5,379 shares during the period. Federated Hermes Inc.’s holdings in Spectrum Brands were worth $692,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SPB. International Assets Investment Management LLC raised its position in Spectrum Brands by 1,713.6% during the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position 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 worth $36,000 after acquiring an additional 160 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Spectrum Brands in the 4th quarter worth about $71,000. DekaBank Deutsche Girozentrale bought a new position in shares of Spectrum Brands in the 4th quarter worth about $79,000. Finally, USA Financial Formulas bought a new position in shares of Spectrum Brands in the 3rd quarter worth about $101,000.

Spectrum Brands Price Performance

SPB stock opened at $83.27 on Friday. The company has a market capitalization of $2.52 billion, a P/E ratio of 1.81, a price-to-earnings-growth ratio of 0.57 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. Spectrum Brands Holdings, Inc. has a 52-week low of $65.27 and a 52-week high of $89.64. The business has a 50-day simple moving average of $82.91 and a two-hundred day simple moving average of $79.23.

Spectrum Brands (NYSE:SPB) last posted its earnings results 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 net margin of 63.89% and a return on equity of 4.66%. The firm had revenue of $692.20 million for the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter last year, the firm earned ($0.32) EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.42 per share. The ex-dividend date was Friday, February 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPB shares. Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their target price on Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 target price (up from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Wells Fargo & Company raised their target price on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and raised their target price for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Hold” and an average price target of $89.17.

Spectrum Brands Company 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.