Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 65.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,455 shares of the company’s stock after selling 6,604 shares during the quarter. OLD National Bancorp IN’s holdings in Spectrum Brands were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new position in Spectrum Brands in the fourth quarter valued at $1,424,000. Qube Research & Technologies Ltd acquired a new position in shares of Spectrum Brands during the third quarter worth about $4,452,000. Fifth Third Bancorp acquired a new position in shares of Spectrum Brands during the fourth quarter worth about $71,000. California Public Employees Retirement System lifted its stake in shares of Spectrum Brands by 32.5% during the third quarter. California Public Employees Retirement System now owns 72,330 shares of the company’s stock worth $5,667,000 after purchasing an additional 17,753 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Spectrum Brands by 5.8% during the third quarter. Loomis Sayles & Co. L P now owns 152,745 shares of the company’s stock worth $11,968,000 after purchasing an additional 8,431 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SPB shares. StockNews.com upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Monness Crespi & Hardt lifted their target price on 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 lifted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Canaccord Genuity Group lowered Spectrum Brands from a “buy” rating to a “hold” rating and lifted their target price for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Finally, Royal Bank of Canada lifted their target price on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.17.

Spectrum Brands Stock Down 1.0 %

Shares of Spectrum Brands stock opened at $80.34 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.43 billion, a P/E ratio of 1.74, a P/E/G ratio of 0.56 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $63.64 and a fifty-two week high of $89.64. The business has a 50-day moving average price of $82.88 and a 200 day moving average price of $79.00.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.47. The firm had revenue of $692.20 million during the quarter, compared to analyst estimates of $674.20 million. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. Spectrum Brands’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.42 per share. 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 presently 3.65%.

About Spectrum Brands

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.