Arizona State Retirement System Has $796,000 Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Arizona State Retirement System cut its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 14.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,973 shares of the company’s stock after selling 1,702 shares during the quarter. Arizona State Retirement System’s holdings in Spectrum Brands were worth $796,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SPB. Nomura Asset Management Co. Ltd. raised its stake in shares of Spectrum Brands by 53.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after purchasing an additional 160 shares in the last quarter. Captrust Financial Advisors grew its holdings in Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after buying an additional 121 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Spectrum Brands by 1,012.7% during the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Spectrum Brands during the 4th quarter worth $71,000. Finally, USA Financial Formulas bought a new stake in shares of Spectrum Brands during the 3rd quarter worth $101,000.

Spectrum Brands Trading Down 0.5 %

NYSE SPB opened at $79.08 on Thursday. The business has a 50 day simple moving average of $83.58 and a 200 day simple moving average of $78.85. Spectrum Brands Holdings, Inc. has a one year low of $63.64 and a one year high of $89.64. The stock has a market capitalization of $2.39 billion, a P/E ratio of 1.72, a P/E/G ratio of 0.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The business had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter last year, the firm posted ($0.32) earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Research analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 annualized dividend and a yield of 2.12%. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Monness Crespi & Hardt increased their target price on Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their price objective on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. StockNews.com upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Finally, Royal Bank of Canada raised their price objective on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.17.

Spectrum Brands 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.