Loomis Sayles & Co. L P Sells 3,082 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Loomis Sayles & Co. L P lowered its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,628 shares of the company’s stock after selling 3,082 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.26% of Spectrum Brands worth $6,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPB. Armistice Capital LLC grew its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Pzena Investment Management LLC boosted its position in Spectrum Brands by 10.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after acquiring an additional 123,733 shares in the last quarter. Bank of Montreal Can boosted its position in Spectrum Brands by 2,542.3% during the 2nd quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock valued at $10,862,000 after acquiring an additional 113,337 shares in the last quarter. Algert Global LLC bought a new stake in Spectrum Brands during the 2nd quarter valued at $9,670,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after acquiring an additional 112,530 shares in the last quarter.

Wall Street Analyst Weigh In

SPB has been the topic of several recent research reports. UBS Group increased their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $102.38.

Spectrum Brands Stock Up 0.4 %

Spectrum Brands stock opened at $91.73 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.59 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 1-year low of $66.07 and a 1-year high of $96.74. The business has a fifty day moving average price of $91.42 and a 200-day moving average price of $89.70.

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). The business had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be paid a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.05%. 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.