Rice Hall James & Associates LLC Purchases Shares of 27,351 Spectrum Brands Holdings Inc. $SPB

Rice Hall James & Associates LLC acquired a new position in Spectrum Brands Holdings Inc. (NYSE:SPB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,351 shares of the company’s stock, valued at approximately $1,437,000. Rice Hall James & Associates LLC owned about 0.11% of Spectrum Brands at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands in the second quarter valued at about $41,000. Blue Trust Inc. grew its position in shares of Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after purchasing an additional 328 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Spectrum Brands by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Spectrum Brands during the 2nd quarter worth about $103,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 22nd. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wells Fargo & Company upped their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Spectrum Brands Stock Performance

Shares of NYSE SPB opened at $60.13 on Friday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.18 and a beta of 0.73. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $87.23. The business has a fifty day simple moving average of $57.19 and a 200 day simple moving average of $55.53. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $1.84. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The firm had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. During the same quarter in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, November 24th. Spectrum Brands’s dividend payout ratio is 47.47%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.