Truist Financial Corp Decreases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Truist Financial Corp trimmed its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,337 shares of the company’s stock after selling 918 shares during the quarter. Truist Financial Corp’s holdings in Spectrum Brands were worth $716,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPB. Confluence Investment Management LLC acquired a new position in Spectrum Brands in the first quarter worth about $12,814,000. First Hawaiian Bank raised its position in shares of Spectrum Brands by 42.8% during the 1st quarter. First Hawaiian Bank now owns 10,136 shares of the company’s stock valued at $902,000 after acquiring an additional 3,036 shares in the last quarter. Principal Financial Group Inc. bought a new position in Spectrum Brands during the first quarter worth $230,000. BNP Paribas Financial Markets boosted its holdings in Spectrum Brands by 1,615.8% in the first quarter. BNP Paribas Financial Markets now owns 55,831 shares of the company’s stock worth $4,970,000 after purchasing an additional 52,577 shares during the period. Finally, Capstone Investment Advisors LLC boosted its holdings in Spectrum Brands by 369.2% in the first quarter. Capstone Investment Advisors LLC now owns 13,298 shares of the company’s stock worth $1,184,000 after purchasing an additional 10,464 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPB shares. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. UBS Group lifted their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reduced their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Stock Performance

Shares of SPB opened at $91.68 on Tuesday. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The company has a 50-day moving average of $91.31 and a two-hundred day moving average of $88.01. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.25 and a beta of 1.22.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The company had revenue of $779.40 million during the quarter, compared to analysts’ expectations of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. Spectrum Brands’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were given a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.83%. Spectrum Brands’s dividend payout ratio is currently 47.46%.

Spectrum Brands Company 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.