Fmr LLC Has $36.88 Million Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Fmr LLC trimmed its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 42.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 387,593 shares of the company’s stock after selling 282,186 shares during the quarter. Fmr LLC owned 1.38% of Spectrum Brands worth $36,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock worth $3,905,000 after purchasing an additional 5,641 shares in the last quarter. TCW Group Inc. lifted its stake in Spectrum Brands by 25.2% in the second quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock valued at $10,901,000 after buying an additional 25,551 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Spectrum Brands in the second quarter valued at about $3,119,000. Bank of Montreal Can grew its stake in shares of Spectrum Brands by 2,542.3% during the 2nd quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Spectrum Brands during the 2nd quarter worth about $630,000.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.38.

Spectrum Brands Stock Performance

SPB stock opened at $94.88 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.66 billion, a PE ratio of 23.25, a P/E/G ratio of 1.65 and a beta of 1.19. The business has a 50 day moving average of $91.54 and a 200-day moving average of $89.66. Spectrum Brands Holdings, Inc. has a 12-month low of $71.52 and a 12-month high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. During the same quarter in the previous year, the business earned $1.36 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is 46.08%.

About Spectrum Brands

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.