Confluence Investment Management LLC Cuts Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Confluence Investment Management LLC cut its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,095 shares of the company’s stock after selling 756 shares during the quarter. Confluence Investment Management LLC’s holdings in Spectrum Brands were worth $3,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after buying an additional 112,530 shares in the last quarter. Pzena Investment Management LLC increased its stake in Spectrum Brands by 10.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after purchasing an additional 123,733 shares in the last quarter. State Street Corp raised its holdings in Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after purchasing an additional 7,783 shares during the last quarter. Wellington Management Group LLP boosted its position in Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after purchasing an additional 36,063 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after purchasing an additional 247,809 shares during the last quarter.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.38.

Spectrum Brands Trading Down 1.1 %

Shares of SPB stock opened at $83.53 on Friday. Spectrum Brands Holdings, Inc. has a twelve month low of $75.50 and a twelve month high of $96.74. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.58 and a beta of 1.19. The firm has a 50-day moving average price of $90.00 and a 200 day moving average price of $89.30. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data 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). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same period in the prior year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.47 per share. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.25%. Spectrum Brands’s dividend payout ratio (DPR) is 46.08%.

About 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.