JPMorgan Chase & Co. Buys 27,993 Shares of Spectrum Brands Holdings Inc. $SPB

JPMorgan Chase & Co. raised its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 52.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,561 shares of the company’s stock after acquiring an additional 27,993 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Spectrum Brands worth $4,284,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the second quarter valued at about $41,000. SJS Investment Consulting Inc. acquired a new position in shares of Spectrum Brands during the third quarter worth approximately $47,000. State of Alaska Department of Revenue acquired a new position in Spectrum Brands during the 3rd quarter worth $49,000. Finally, Quarry LP acquired a new position in shares of Spectrum Brands during the third quarter valued at $51,000.

Spectrum Brands Stock Performance

Shares of NYSE SPB opened at $73.96 on Friday. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $80.42. The company has a market capitalization of $1.72 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.50 and a beta of 0.63. The stock has a 50 day moving average of $73.75 and a 200-day moving average of $62.79. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.29.

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

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Spectrum Brands’s dividend payout ratio is currently 43.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on SPB. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Friday, March 27th. Oppenheimer boosted their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Royal Bank Of Canada set a $85.00 price target on Spectrum Brands in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.