Los Angeles Capital Management LLC Sells 4,040 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Los Angeles Capital Management LLC decreased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 55.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the company’s stock after selling 4,040 shares during the period. Los Angeles Capital Management LLC’s holdings in Spectrum Brands were worth $314,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Gamco Investors INC. ET AL increased its position in shares of Spectrum Brands by 50.5% during the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after acquiring an additional 77,835 shares in the last quarter. TCW Group Inc. grew its position in Spectrum Brands by 25.2% in the second quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock valued at $10,901,000 after purchasing an additional 25,551 shares in the last quarter. Gabelli Funds LLC grew its position in Spectrum Brands by 217.7% in the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock valued at $14,740,000 after purchasing an additional 113,470 shares in the last quarter. Caxton Associates LP bought a new position in Spectrum Brands in the first quarter valued at $792,000. Finally, Acadian Asset Management LLC bought a new position in Spectrum Brands in the second quarter valued at $3,119,000.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $88.22 on Monday. The stock has a market cap of $2.47 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The company has a fifty day moving average price of $91.49 and a two-hundred day moving average price of $89.48. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74.

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

Spectrum Brands Increases Dividend

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

Analysts Set New Price Targets

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

Spectrum Brands 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.