Amalgamated Bank Sells 3,644 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Amalgamated Bank decreased its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 70.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,515 shares of the company’s stock after selling 3,644 shares during the quarter. Amalgamated Bank’s holdings in Spectrum Brands were worth $144,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPB. Allspring Global Investments Holdings LLC lifted its holdings in Spectrum Brands by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after purchasing an additional 112,530 shares during the last quarter. Armistice Capital LLC lifted its holdings in Spectrum Brands by 129.4% in the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after purchasing an additional 247,809 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Spectrum Brands by 50.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after purchasing an additional 77,835 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Spectrum Brands by 28.6% during the second quarter. Gabelli Funds LLC now owns 212,994 shares of the company’s stock worth $18,303,000 after buying an additional 47,400 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Spectrum Brands by 10.3% during the second quarter. First Eagle Investment Management LLC now owns 139,120 shares of the company’s stock worth $11,955,000 after buying an additional 13,020 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPB. UBS Group upped their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their price target on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.88.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $88.22 on Monday. The business’s 50-day simple moving average is $91.49 and its 200 day simple moving average is $89.48. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 0.25 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last released its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same period in the previous year, the company posted $1.36 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. Spectrum Brands’s dividend payout ratio is currently 41.18%.

Spectrum Brands Company Profile

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.