Russell Investments Group Ltd. Trims Stake in Spectrum Brands Holdings Inc. $SPB

Russell Investments Group Ltd. reduced its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,437 shares of the company’s stock after selling 1,672 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Spectrum Brands worth $3,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares during the period. New York State Teachers Retirement System purchased a new position in Spectrum Brands during the 1st quarter worth $118,000. Lazard Asset Management LLC increased its holdings in Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after purchasing an additional 692 shares during the period. Pallas Capital Advisors LLC purchased a new position in Spectrum Brands during the 1st quarter worth $253,000. Finally, Blueshift Asset Management LLC purchased a new position in Spectrum Brands during the 1st quarter worth $258,000.

Spectrum Brands Stock Up 5.0%

Shares of SPB stock opened at $57.1810 on Friday. Spectrum Brands Holdings Inc. has a 1-year low of $50.73 and a 1-year high of $96.62. The stock’s fifty day moving average price is $55.42 and its 200 day moving average price is $62.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 21.34 and a beta of 0.86.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The firm had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the firm posted $1.13 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. On average, research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. Spectrum Brands’s payout ratio is currently 70.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPB shares. Monness Crespi & Hardt cut their price target on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Canaccord Genuity Group cut their price target on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 8th. UBS Group lifted their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company cut their price target on Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and an average target price of $74.80.

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.