Spectrum Brands Holdings Inc. $SPB Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 585,880 shares of the company’s stock after selling 21,600 shares during the period. LSV Asset Management’s holdings in Spectrum Brands were worth $30,776,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Amundi purchased a new position in shares of Spectrum Brands during the 1st quarter worth approximately $176,000. Millennium Management LLC grew its holdings in Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the period. NewEdge Advisors LLC grew its holdings in Spectrum Brands by 173.0% during the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after acquiring an additional 3,415 shares during the period. Goldman Sachs Group Inc. raised its position in Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after acquiring an additional 114,143 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Spectrum Brands by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after acquiring an additional 6,321 shares during the period.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Wells Fargo & Company boosted their price target on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada set a $85.00 price objective on Spectrum Brands in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Spectrum Brands Stock Up 0.5%

Shares of NYSE SPB opened at $76.19 on Friday. The firm’s 50-day moving average is $63.93 and its two-hundred day moving average is $58.04. The company has a market capitalization of $1.77 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $80.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $667.59 million. During the same period last year, the company posted $1.02 EPS. The company’s revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio is currently 43.42%.

About Spectrum Brands

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.