First Mercantile Trust Co. grew its position in Spectrum Brands Holdings Inc (NYSE:SPB) by 34.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,326 shares of the company’s stock after acquiring an additional 1,120 shares during the quarter. First Mercantile Trust Co.’s holdings in Spectrum Brands were worth $183,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Country Club Trust Company n.a. lifted its holdings in shares of Spectrum Brands by 8.3% during the fourth quarter. Country Club Trust Company n.a. now owns 6,445 shares of the company’s stock worth $272,000 after purchasing an additional 496 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Spectrum Brands by 100.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,000 shares of the company’s stock worth $42,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE raised its position in Spectrum Brands by 5.8% in the third quarter. US Bancorp DE now owns 15,337 shares of the company’s stock worth $1,146,000 after acquiring an additional 842 shares in the last quarter. First Hawaiian Bank purchased a new position in Spectrum Brands in the fourth quarter worth $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Spectrum Brands by 90.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,765 shares of the company’s stock worth $207,000 after acquiring an additional 1,314 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on SPB. Wells Fargo & Co cut their price objective on Spectrum Brands from $85.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, October 17th. Zacks Investment Research cut Spectrum Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, January 21st. Bank of America upgraded Spectrum Brands from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $65.00 in a research report on Friday, January 18th. Royal Bank of Canada cut their price objective on Spectrum Brands to $75.00 and set an “outperform” rating for the company in a research report on Monday, November 26th. Finally, CIBC reiterated a “buy” rating and issued a $14.50 price objective on shares of Spectrum Brands in a research report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.50.
Shares of SPB stock opened at $46.91 on Monday. Spectrum Brands Holdings Inc has a fifty-two week low of $40.54 and a fifty-two week high of $107.69. The firm has a market capitalization of $2.51 billion, a PE ratio of 13.25, a PEG ratio of 1.00 and a beta of 1.86. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.49 and a quick ratio of 2.11.
Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.60). Spectrum Brands had a net margin of 3.32% and a return on equity of 3.17%. The firm had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $910.97 million. During the same quarter in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was up 35.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spectrum Brands Holdings Inc will post 3.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, February 15th. Spectrum Brands’s dividend payout ratio is currently 47.46%.
Spectrum Brands Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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