Asset Management One Co. Ltd. Lowers Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Asset Management One Co. Ltd. lessened its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,371 shares of the company’s stock after selling 294 shares during the period. Asset Management One Co. Ltd.’s holdings in Spectrum Brands were worth $537,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPB. Harvey Partners LLC bought a new position in Spectrum Brands in the third quarter valued at $19,837,000. Verition Fund Management LLC increased its stake in Spectrum Brands by 295.5% in the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock valued at $17,388,000 after acquiring an additional 136,556 shares during the last quarter. Pzena Investment Management LLC increased its stake in Spectrum Brands by 10.4% in the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after acquiring an additional 123,733 shares during the last quarter. Cinctive Capital Management LP bought a new position in Spectrum Brands in the third quarter valued at $7,380,000. Finally, National Bank of Canada FI increased its stake in Spectrum Brands by 10,046.3% in the third quarter. National Bank of Canada FI now owns 44,441 shares of the company’s stock valued at $4,228,000 after acquiring an additional 44,003 shares during the last quarter.

Spectrum Brands Stock Down 0.7 %

Shares of NYSE:SPB opened at $79.06 on Friday. The stock’s 50-day moving average price is $83.46 and its 200-day moving average price is $88.60. Spectrum Brands Holdings, Inc. has a 12-month low of $74.72 and a 12-month high of $96.74. The stock has a market capitalization of $2.08 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.38%. Spectrum Brands’s payout ratio is presently 46.19%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SPB shares. Wells Fargo & Company reduced their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reduced their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. UBS Group reduced their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.43.

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.