SG Americas Securities LLC Increases Stock Holdings in Spectrum Brands Holdings Inc. $SPB

SG Americas Securities LLC lifted its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 261.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,895 shares of the company’s stock after acquiring an additional 10,779 shares during the period. SG Americas Securities LLC’s holdings in Spectrum Brands were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SPB. GAMMA Investing LLC increased its holdings in Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands in the second quarter valued at about $41,000. SJS Investment Consulting Inc. acquired a new stake in shares of Spectrum Brands in the third quarter valued at approximately $47,000. Blue Trust Inc. increased its stake in shares of Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after purchasing an additional 328 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares during the last quarter.

Spectrum Brands Trading Up 0.7%

Shares of SPB opened at $62.35 on Wednesday. The stock’s fifty day simple moving average is $59.68 and its 200 day simple moving average is $56.55. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $87.23. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.46 billion, a P/E ratio of 15.74 and a beta of 0.69.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $0.77 by $1.84. The company had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, November 24th. Spectrum Brands’s payout ratio is 47.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SPB shares. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Finally, Wells Fargo & Company increased their target price on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 14th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.