State Street Corp Has $56.15 Million Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

State Street Corp increased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,222 shares of the company’s stock after purchasing an additional 7,783 shares during the quarter. State Street Corp’s holdings in Spectrum Brands were worth $56,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in shares of Spectrum Brands during the third quarter worth $27,000. Brooklyn Investment Group acquired a new position in Spectrum Brands in the 3rd quarter worth about $31,000. International Assets Investment Management LLC raised its position in Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares during the last quarter. Quarry LP boosted its stake in shares of Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Spectrum Brands during the second quarter worth about $50,000.

Analyst Ratings Changes

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

Spectrum Brands Stock Performance

NYSE:SPB opened at $86.27 on Thursday. The company has a market capitalization of $2.42 billion, a PE ratio of 21.14, a P/E/G ratio of 1.58 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. The company has a 50 day simple moving average of $91.33 and a two-hundred day simple moving average of $89.68.

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

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a dividend of $0.47 per share. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. Spectrum Brands’s dividend payout ratio is presently 46.08%.

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.