Teachers Retirement System of The State of Kentucky bought a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,412 shares of the company’s stock, valued at approximately $1,474,000.
Several other large investors have also recently bought and sold shares of SPB. Victory Capital Management Inc. grew its stake in shares of Spectrum Brands by 9,196.8% during the third quarter. Victory Capital Management Inc. now owns 555,765 shares of the company’s stock valued at $53,170,000 after buying an additional 549,787 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Spectrum Brands by 137.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 687,042 shares of the company’s stock valued at $58,426,000 after purchasing an additional 398,179 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Spectrum Brands by 19.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,849,752 shares of the company’s stock valued at $157,302,000 after purchasing an additional 295,908 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 20.7% during the 3rd quarter. Pzena Investment Management LLC now owns 1,007,541 shares of the company’s stock valued at $96,391,000 after purchasing an additional 172,938 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Spectrum Brands by 46.0% in the 2nd quarter. AQR Capital Management LLC now owns 450,094 shares of the company’s stock worth $38,060,000 after acquiring an additional 141,857 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Spectrum Brands from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, November 17th. Wells Fargo & Company lifted their price objective on Spectrum Brands from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, November 15th. They noted that the move was a valuation call. Raymond James lowered shares of Spectrum Brands to a “market perform” rating in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Spectrum Brands from $100.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 17th. Finally, Monness Crespi & Hardt lifted their price target on shares of Spectrum Brands from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Spectrum Brands presently has an average rating of “Buy” and an average price target of $117.71.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 12th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.42). Spectrum Brands had a return on equity of 16.93% and a net margin of 4.50%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Spectrum Brands Holdings, Inc. will post 3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 14th. Stockholders of record on Monday, November 22nd were given a $0.42 dividend. The ex-dividend date was Friday, November 19th. This represents a $1.68 annualized dividend and a dividend yield of 1.68%. Spectrum Brands’s dividend payout ratio is presently 38.10%.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.
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