Brown Advisory Inc. acquired a new stake in shares of Spectrum Brands Holdings Inc (NYSE:SPB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 576,389 shares of the company’s stock, valued at approximately $43,069,000. Brown Advisory Inc. owned approximately 1.08% of Spectrum Brands as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in Spectrum Brands in the third quarter worth about $140,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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. Cadence Capital Management LLC purchased a new position in Spectrum Brands in the third quarter worth about $218,000. NJ State Employees Deferred Compensation Plan purchased a new position in Spectrum Brands in the third quarter worth about $224,000. Finally, First Mercantile Trust Co. purchased a new position in Spectrum Brands in the third quarter worth about $240,000.
Several research firms recently commented on SPB. Royal Bank of Canada dropped their price target on Spectrum Brands to $75.00 and set an “outperform” rating for the company in a research report on Monday. Zacks Investment Research upgraded Spectrum Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 22nd. BMO Capital Markets dropped their price target on Spectrum Brands from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, November 20th. Wells Fargo & Co dropped their price target on Spectrum Brands from $70.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, November 20th. Finally, Monness Crespi & Hardt dropped their price target on Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Spectrum Brands presently has an average rating of “Hold” and an average target price of $104.00.
Shares of NYSE:SPB opened at $49.66 on Friday. Spectrum Brands Holdings Inc has a 1 year low of $45.88 and a 1 year high of $119.94. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.66. The company has a quick ratio of 2.68, a current ratio of 2.49 and a debt-to-equity ratio of 2.93.
Spectrum Brands (NYSE:SPB) last announced its earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.29). Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.43%. The business had revenue of $787.80 million for the quarter, compared to analysts’ expectations of $803.72 million. During the same quarter last year, the firm earned $1.35 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Spectrum Brands Holdings Inc will post 3.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, November 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.38%. Spectrum Brands’s dividend payout ratio (DPR) is presently 47.46%.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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