Spectrum Brands Holdings Inc. $SPB Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,452 shares of the company’s stock after selling 7,674 shares during the quarter. Confluence Investment Management LLC owned 0.13% of Spectrum Brands worth $1,740,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. lifted its position in shares of Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after acquiring an additional 579 shares during the period. Headlands Technologies LLC purchased a new position in Spectrum Brands in the 2nd quarter valued at approximately $41,000. SJS Investment Consulting Inc. purchased a new position in Spectrum Brands in the 3rd quarter valued at approximately $47,000. State of Alaska Department of Revenue acquired a new position in Spectrum Brands during the third quarter worth $49,000. Finally, Quarry LP purchased a new stake in Spectrum Brands during the third quarter worth $51,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Oppenheimer lifted their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a research report on Friday, February 6th. Finally, Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $69.62 on Friday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $80.42. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.62 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.64. The company’s 50-day moving average price is $71.80 and its two-hundred day moving average price is $61.61.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, February 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.63. The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $667.59 million. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. As a group, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, February 17th. Spectrum Brands’s dividend payout ratio (DPR) is presently 43.42%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.