Strs Ohio Purchases Shares of 23,988 Spectrum Brands Holdings Inc. $SPB

Strs Ohio acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,988 shares of the company’s stock, valued at approximately $1,716,000. Strs Ohio owned 0.10% of Spectrum Brands as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted 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 last quarter. Lazard Asset Management LLC increased its position 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 buying an additional 692 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Spectrum Brands during the first quarter worth $118,000. Quarry LP bought a new stake in Spectrum Brands in the 1st quarter valued at about $157,000. Finally, Amundi acquired a new position in shares of Spectrum Brands during the 1st quarter worth approximately $176,000.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $52.99 on Wednesday. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. 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 $1.28 billion, a price-to-earnings ratio of 19.77 and a beta of 0.83. The firm has a 50 day simple moving average of $55.96 and a 200 day simple moving average of $59.96.

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

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands’s dividend payout ratio (DPR) is 70.15%.

Wall Street Analyst Weigh In

SPB has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price objective on Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, July 9th. Canaccord Genuity Group cut their target price on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average 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.