Assenagon Asset Management S.A. Sells 10,904 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Assenagon Asset Management S.A. lessened its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 57.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,914 shares of the company’s stock after selling 10,904 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Spectrum Brands were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Harvey Partners LLC bought a new position in shares of Spectrum Brands during the 3rd quarter valued at about $19,837,000. Verition Fund Management LLC grew its position in Spectrum Brands by 295.5% during the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock valued at $17,388,000 after acquiring an additional 136,556 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock worth $124,715,000 after acquiring an additional 123,733 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Spectrum Brands by 2,542.3% in 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 during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Spectrum Brands in the 2nd quarter valued at $9,670,000.

Spectrum Brands Stock Down 2.0 %

Shares of NYSE:SPB opened at $84.13 on Friday. The stock’s 50-day moving average is $87.88 and its 200 day moving average is $89.03. The company has a market cap of $2.36 billion, a PE ratio of 20.62, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. Spectrum Brands Holdings, Inc. has a 1 year low of $77.73 and a 1 year high of $96.74.

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

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.23%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s payout ratio is currently 46.08%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SPB shares. Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. UBS Group decreased their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Spectrum Brands has an average rating of “Moderate Buy” and an average target price of $100.75.

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.