The Manufacturers Life Insurance Company Sells 222 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

The Manufacturers Life Insurance Company cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,717 shares of the company’s stock after selling 222 shares during the period. The Manufacturers Life Insurance Company’s holdings in Spectrum Brands were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Waldron Private Wealth LLC acquired a new stake in shares of Spectrum Brands in the third quarter valued at approximately $27,000. International Assets Investment Management LLC boosted its position in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares during the last quarter. Quarry LP increased its stake in shares of Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after buying an additional 450 shares during the period. Headlands Technologies LLC bought a new stake in shares of Spectrum Brands during the second quarter worth $50,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 92.2% during the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after acquiring an additional 261 shares during the period.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.38.

Spectrum Brands Price Performance

Shares of SPB stock opened at $90.48 on Friday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a 12-month low of $75.50 and a 12-month high of $96.74. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $91.45 and a 200-day moving average of $89.68.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The business had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is 46.08%.

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.