Verdence Capital Advisors LLC Boosts Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Verdence Capital Advisors LLC lifted its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 18.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,465 shares of the company’s stock after acquiring an additional 530 shares during the period. Verdence Capital Advisors LLC’s holdings in Spectrum Brands were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SPB. International Assets Investment Management LLC grew its position in shares of Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 377 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Spectrum Brands by 53.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after purchasing an additional 160 shares during the last quarter. Fifth Third Bancorp purchased a new position in Spectrum Brands during the 4th quarter worth $71,000. DekaBank Deutsche Girozentrale purchased a new position in Spectrum Brands during the 4th quarter worth $79,000. Finally, USA Financial Formulas purchased a new position in Spectrum Brands during the 3rd quarter worth $101,000.

Spectrum Brands Stock Up 0.9 %

SPB stock opened at $80.51 on Wednesday. Spectrum Brands Holdings, Inc. has a one year low of $63.64 and a one year high of $89.64. The stock has a market capitalization of $2.44 billion, a PE ratio of 1.75, a price-to-earnings-growth ratio of 0.55 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. The company has a fifty day moving average of $83.08 and a 200-day moving average of $78.97.

Spectrum Brands (NYSE:SPB) last released 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 company had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter last year, the business earned ($0.32) EPS. The business’s revenue was down 3.0% on a year-over-year basis. As a group, analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is 3.65%.

Analyst Ratings Changes

SPB has been the topic of several research reports. StockNews.com raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Monness Crespi & Hardt raised their price objective on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $86.00 target price (up previously from $83.00) on shares of Spectrum Brands 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.17.

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.