State Street Corp Purchases 7,783 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

State Street Corp grew its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,222 shares of the company’s stock after acquiring an additional 7,783 shares during the period. State Street Corp owned about 2.11% of Spectrum Brands worth $56,154,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its position in Spectrum Brands by 94.8% during the second quarter. Fifth Third Bancorp now owns 1,734 shares of the company’s stock worth $149,000 after buying an additional 844 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Spectrum Brands by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock worth $172,511,000 after acquiring an additional 79,322 shares during the period. Legato Capital Management LLC increased its holdings in shares of Spectrum Brands by 51.5% during the 2nd quarter. Legato Capital Management LLC now owns 11,491 shares of the company’s stock worth $987,000 after acquiring an additional 3,907 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Spectrum Brands by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,103 shares of the company’s stock valued at $610,000 after acquiring an additional 676 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Spectrum Brands during the 2nd quarter valued at $59,000.

Spectrum Brands Stock Down 3.2 %

Shares of SPB opened at $86.27 on Thursday. The stock has a market capitalization of $2.42 billion, a PE ratio of 21.14, a P/E/G ratio of 1.58 and a beta of 1.19. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $91.33 and its 200-day moving average is $89.68. Spectrum Brands Holdings, Inc. has a 12 month low of $75.50 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share 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 firm had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. During the same period in the prior year, the company earned $1.36 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.38.

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.