New York State Common Retirement Fund grew its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 24.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,458 shares of the company’s stock after purchasing an additional 13,758 shares during the period. New York State Common Retirement Fund owned about 0.12% of Spectrum Brands worth $7,357,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of SPB. Schroder Investment Management Group increased its holdings in Spectrum Brands by 29.7% during the second quarter. Schroder Investment Management Group now owns 812,903 shares of the company’s stock worth $101,084,000 after buying an additional 186,285 shares during the last quarter. Channing Capital Management LLC acquired a new position in Spectrum Brands during the third quarter worth $16,769,000. Janus Henderson Group PLC acquired a new position in Spectrum Brands during the second quarter worth $12,046,000. Citigroup Inc. increased its holdings in Spectrum Brands by 1,203.8% during the second quarter. Citigroup Inc. now owns 68,229 shares of the company’s stock worth $8,532,000 after buying an additional 62,996 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Spectrum Brands during the second quarter worth $7,874,000. Institutional investors own 48.23% of the company’s stock.
A number of brokerages recently weighed in on SPB. Oppenheimer restated a “buy” rating on shares of Spectrum Brands in a report on Wednesday. Canaccord Genuity restated a “buy” rating on shares of Spectrum Brands in a report on Thursday, September 28th. Wells Fargo & Company restated a “buy” rating on shares of Spectrum Brands in a report on Wednesday. KeyCorp set a $130.00 price objective on shares of Spectrum Brands and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub upgraded shares of Spectrum Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $137.25.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 16th. The company reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.12). Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Spectrum Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. equities research analysts predict that Spectrum Brands Holdings, Inc. will post 6.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th were issued a $0.42 dividend. The ex-dividend date was Monday, November 27th. This represents a $1.68 annualized dividend and a dividend yield of 1.47%. Spectrum Brands’s dividend payout ratio is currently 33.47%.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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