Bank of New York Mellon Corp Decreases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)
Bank of New York Mellon Corp lowered its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,854 shares of the company's stock after selling 50,043 shares during the period. Bank of New York Mellon Corp owned 1.17% of Spectrum Brands worth $27,109,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SPB. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Spectrum Brands in the third quarter worth $272,000. Farther Finance Advisors LLC raised its holdings in shares of Spectrum Brands by 92.2% in the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company's stock worth $52,000 after buying an additional 261 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Spectrum Brands by 6.6% in the third quarter. Janney Montgomery Scott LLC now owns 8,316 shares of the company's stock worth $791,000 after buying an additional 516 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Spectrum Brands by 1.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company's stock worth $2,043,000 after buying an additional 345 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Spectrum Brands by 120.7% in the third quarter. Venturi Wealth Management LLC now owns 1,143 shares of the company's stock worth $109,000 after buying an additional 625 shares during the last quarter.
SPB opened at $75.18 on Friday. Spectrum Brands Holdings, Inc. has a fifty-two week low of $73.12 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The company has a fifty day moving average of $81.34 and a two-hundred day moving average of $87.75. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.70 and a beta of 1.20.
Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the previous year, the business earned $0.78 earnings per share. On average, research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. Spectrum Brands's payout ratio is 46.19%.
A number of research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. UBS Group reduced their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.43.
Get Our Latest Report on Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.
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