Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 90.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,765 shares of the company’s stock after purchasing an additional 1,314 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Spectrum Brands were worth $207,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC grew its position in Spectrum Brands by 26.3% during the third quarter. FMR LLC now owns 8,011,307 shares of the company’s stock valued at $598,605,000 after purchasing an additional 1,670,550 shares in the last quarter. Wells Fargo & Company MN grew its position in Spectrum Brands by 18.5% during the third quarter. Wells Fargo & Company MN now owns 2,586,483 shares of the company’s stock valued at $193,263,000 after purchasing an additional 403,810 shares in the last quarter. Schroder Investment Management Group grew its position in Spectrum Brands by 171.2% during the second quarter. Schroder Investment Management Group now owns 2,053,842 shares of the company’s stock valued at $106,533,000 after purchasing an additional 1,296,429 shares in the last quarter. BlackRock Inc. grew its position in Spectrum Brands by 95.2% during the third quarter. BlackRock Inc. now owns 1,773,507 shares of the company’s stock valued at $132,517,000 after purchasing an additional 865,154 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Spectrum Brands by 9.6% during the third quarter. Wedge Capital Management L L P NC now owns 1,445,497 shares of the company’s stock valued at $108,008,000 after purchasing an additional 126,714 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SPB opened at $47.36 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 2.93. Spectrum Brands Holdings Inc has a 12-month low of $45.88 and a 12-month high of $119.94.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Wednesday, November 21st. The company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.29). Spectrum Brands had a negative return on equity of 2.43% and a net margin of 23.26%. The firm had revenue of $787.80 million during the quarter, compared to analyst estimates of $803.72 million. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Spectrum Brands’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Spectrum Brands Holdings Inc will post 3.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, November 26th. Spectrum Brands’s payout ratio is 47.46%.
A number of research firms have issued reports on SPB. TheStreet upgraded shares of Spectrum Brands from a “c” rating to a “b-” rating in a research note on Monday, August 20th. Monness Crespi & Hardt reduced their target price on shares of Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, September 25th. Raymond James reiterated a “buy” rating and issued a $15.00 target price on shares of Spectrum Brands in a research note on Monday, December 3rd. Finally, Deutsche Bank cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $96.58.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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