Russell Investments Group Ltd. Has $4.57 Million Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Russell Investments Group Ltd. reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,109 shares of the company’s stock after selling 8,691 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Spectrum Brands worth $4,572,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SPB. Wealthfront Advisers LLC acquired a new position in Spectrum Brands during the 4th quarter worth approximately $16,606,000. Trexquant Investment LP lifted its position in shares of Spectrum Brands by 2,541.2% in the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock worth $12,563,000 after purchasing an additional 143,068 shares in the last quarter. Norges Bank acquired a new position in Spectrum Brands during the fourth quarter worth $7,062,000. ExodusPoint Capital Management LP grew its position in Spectrum Brands by 233.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 88,539 shares of the company’s stock valued at $7,481,000 after purchasing an additional 61,984 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Spectrum Brands by 37.9% in the 4th quarter. Great Lakes Advisors LLC now owns 152,068 shares of the company’s stock valued at $12,848,000 after buying an additional 41,792 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group dropped their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada decreased their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company dropped their price objective on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.57.

Spectrum Brands Price Performance

NYSE:SPB opened at $60.41 on Wednesday. Spectrum Brands Holdings, Inc. has a 12-month low of $57.93 and a 12-month high of $96.74. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.70 and a beta of 1.03. The stock’s 50 day moving average price is $71.69 and its two-hundred day moving average price is $82.81. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 posted $0.78 EPS. On average, analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Spectrum Brands Company 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.