Blue Trust Inc. Sells 134 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Blue Trust Inc. lessened its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673 shares of the company’s stock after selling 134 shares during the quarter. Blue Trust Inc.’s holdings in Spectrum Brands were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Citigroup Inc. increased its stake in Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,641 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Spectrum Brands during the fourth quarter valued at about $553,000. Empowered Funds LLC acquired a new position in shares of Spectrum Brands during the fourth quarter valued at about $387,000. SG Americas Securities LLC increased its position in shares of Spectrum Brands by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after acquiring an additional 11,166 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 shares during the last quarter.

Spectrum Brands Stock Up 1.3 %

Shares of NYSE:SPB opened at $79.67 on Wednesday. Spectrum Brands Holdings, Inc. has a 1 year low of $74.72 and a 1 year high of $96.74. The company has a market capitalization of $2.10 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The business has a fifty day moving average price of $83.02 and a two-hundred day moving average price of $88.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the company earned $0.78 earnings per share. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.36%. Spectrum Brands’s payout ratio is currently 46.19%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPB shares. Wells Fargo & Company cut their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group cut their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus target price of $103.43.

Spectrum Brands 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.