Royce & Associates LP Lowers Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Royce & Associates LP reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,438 shares of the company’s stock after selling 10,050 shares during the period. Royce & Associates LP’s holdings in Spectrum Brands were worth $8,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Spectrum Brands during the third quarter valued at $31,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Spectrum Brands during the 4th quarter valued at about $50,000. Quantbot Technologies LP purchased a new position in shares of Spectrum Brands during the third quarter worth about $62,000. Quarry LP grew its holdings in shares of Spectrum Brands by 70.9% during the third quarter. Quarry LP now owns 974 shares of the company’s stock worth $93,000 after purchasing an additional 404 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after purchasing an additional 375 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPB shares. UBS Group cut their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company reduced their price target 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. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of “Moderate Buy” and an average price target of $103.43.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $70.69 on Wednesday. The business has a 50 day moving average of $79.66 and a 200 day moving average of $86.72. Spectrum Brands Holdings, Inc. has a 52 week low of $69.85 and a 52 week high of $96.74. The company has a market cap of $1.86 billion, a PE ratio of 17.37, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.66%. Spectrum Brands’s dividend payout ratio (DPR) is 46.19%.

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.