Legato Capital Management LLC Grows Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Legato Capital Management LLC raised its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,299 shares of the company’s stock after purchasing an additional 198 shares during the quarter. Legato Capital Management LLC’s holdings in Spectrum Brands were worth $786,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC purchased a new position in Spectrum Brands in the fourth quarter valued at about $237,000. Entropy Technologies LP purchased a new stake in shares of Spectrum Brands during the fourth quarter worth about $865,000. Empowered Funds LLC purchased a new stake in shares of Spectrum Brands during the fourth quarter worth about $387,000. Lecap Asset Management Ltd. purchased a new stake in shares of Spectrum Brands during the fourth quarter worth about $829,000. Finally, Manning & Napier Advisors LLC increased its position in shares of Spectrum Brands by 30.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock worth $12,674,000 after acquiring an additional 35,000 shares during the last quarter.

Spectrum Brands Stock Up 2.1 %

Shares of Spectrum Brands stock opened at $78.51 on Friday. 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 market cap of $2.07 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.36 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $74.72 and a fifty-two week high of $96.74. The business has a 50-day moving average price of $85.23 and a 200 day moving average price of $88.88.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same period last year, the company earned $0.78 earnings per share. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 5.17 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. Spectrum Brands’s payout ratio is currently 46.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPB shares. Wells Fargo & Company dropped their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada dropped their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, UBS Group dropped their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.43.

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.