Los Angeles Capital Management LLC grew its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,937 shares of the company’s stock after acquiring an additional 245 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Spectrum Brands were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in Spectrum Brands by 11.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,213,089 shares of the company’s stock worth $69,341,000 after acquiring an additional 124,739 shares during the last quarter. Scopus Asset Management L.P. bought a new stake in Spectrum Brands in the 3rd quarter worth approximately $41,441,000. Moerus Capital Management LLC increased its stake in Spectrum Brands by 0.6% in the 3rd quarter. Moerus Capital Management LLC now owns 585,462 shares of the company’s stock worth $33,465,000 after acquiring an additional 3,467 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Spectrum Brands by 14,671.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 546,827 shares of the company’s stock worth $4,170,000 after acquiring an additional 543,125 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Spectrum Brands in the 4th quarter worth approximately $41,076,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on SPB. TheStreet raised Spectrum Brands from a “c+” rating to a “b-” rating in a research note on Tuesday, February 16th. Zacks Investment Research cut Spectrum Brands from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a report on Wednesday, January 13th. Wells Fargo & Company lifted their target price on Spectrum Brands from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 5th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lifted their target price on Spectrum Brands from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, February 8th. Finally, Bank of America lifted their target price on Spectrum Brands from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, November 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.78.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, February 4th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $1.36. Spectrum Brands had a return on equity of 13.35% and a net margin of 2.46%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned $0.20 EPS. Spectrum Brands’s revenue was up 31.4% compared to the same quarter last year. Equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 16th. Investors of record on Tuesday, February 23rd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, February 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.06. Spectrum Brands’s payout ratio is presently 40.98%.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell Manufacturing brands; and plumbing products under the Pfister brand.
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