Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Spectrum Brands Holdings Inc (NYSE:SPB) by 90.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,765 shares of the company’s stock after buying an additional 1,314 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Spectrum Brands were worth $207,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Aperio Group LLC lifted its holdings in shares of Spectrum Brands by 155.5% during the 2nd quarter. Aperio Group LLC now owns 9,307 shares of the company’s stock valued at $760,000 after purchasing an additional 5,665 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Spectrum Brands by 12.8% during the 2nd quarter. Victory Capital Management Inc. now owns 26,167 shares of the company’s stock valued at $2,136,000 after acquiring an additional 2,963 shares during the period. KBC Group NV grew its position in shares of Spectrum Brands by 401.1% during the 2nd quarter. KBC Group NV now owns 71,249 shares of the company’s stock valued at $5,816,000 after acquiring an additional 57,031 shares during the period. Sei Investments Co. grew its position in shares of Spectrum Brands by 399.7% during the 2nd quarter. Sei Investments Co. now owns 33,696 shares of the company’s stock valued at $2,750,000 after acquiring an additional 26,953 shares during the period. Finally, Country Club Trust Company n.a. acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at about $463,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.
SPB stock opened at $47.36 on Friday. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 2.93. Spectrum Brands Holdings Inc has a 12-month low of $45.88 and a 12-month high of $119.94.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, November 26th. Spectrum Brands’s payout ratio is 47.46%.
A number of equities research analysts have recently commented on the company. Raymond James restated a “buy” rating and set a $15.00 target price on shares of Spectrum Brands in a research report on Monday, December 3rd. Royal Bank of Canada dropped their target price on Spectrum Brands to $75.00 and set an “outperform” rating on the stock in a research report on Monday, November 26th. Zacks Investment Research upgraded Spectrum Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 22nd. BMO Capital Markets dropped their target price on Spectrum Brands from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co dropped their target price on Spectrum Brands from $70.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 20th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $96.58.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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