Mitsubishi UFJ Trust & Banking Corp Buys 10,605 Shares of Spectrum Brands Holdings Inc. $SPB

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 88.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,618 shares of the company’s stock after purchasing an additional 10,605 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Spectrum Brands were worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SPB. Callodine Capital Management LP increased its position in shares of Spectrum Brands by 85.5% during the second quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock valued at $71,765,000 after buying an additional 624,057 shares during the period. American Century Companies Inc. increased its holdings in Spectrum Brands by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 1,792,765 shares of the company’s stock worth $95,017,000 after acquiring an additional 473,345 shares during the period. Norges Bank purchased a new stake in Spectrum Brands in the 2nd quarter worth approximately $16,844,000. Balyasny Asset Management L.P. bought a new position in Spectrum Brands in the 2nd quarter valued at $15,409,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Spectrum Brands by 71.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock valued at $28,606,000 after purchasing an additional 224,481 shares during the period.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Canaccord Genuity Group upped their target price on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company boosted their price objective on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Trading Down 0.3%

Shares of SPB stock opened at $63.62 on Friday. The business has a 50-day moving average price of $61.03 and a two-hundred day moving average price of $56.99. Spectrum Brands Holdings Inc. has a 12-month low of $49.99 and a 12-month high of $86.94. The company has a quick ratio of 1.41, a current ratio of 2.26 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.48 billion, a P/E ratio of 16.07 and a beta of 0.69.

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

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s payout ratio is presently 47.47%.

Spectrum Brands Company 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.