Steward Partners Investment Advisory LLC Invests $50,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Steward Partners Investment Advisory LLC acquired a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 596 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently made changes to their positions in the business. Harvey Partners LLC bought a new position in Spectrum Brands during the third quarter valued at approximately $19,837,000. Verition Fund Management LLC boosted its stake 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 buying an additional 136,556 shares during the last quarter. Pzena Investment Management LLC boosted its stake in Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after buying an additional 123,733 shares during the last quarter. Cinctive Capital Management LP bought a new position in Spectrum Brands during the third quarter valued at approximately $7,380,000. Finally, National Bank of Canada FI boosted its stake in Spectrum Brands by 10,046.3% during the third quarter. National Bank of Canada FI now owns 44,441 shares of the company’s stock valued at $4,228,000 after buying an additional 44,003 shares during the last quarter.

Spectrum Brands Price Performance

NYSE:SPB opened at $70.69 on Wednesday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 1 year low of $69.85 and a 1 year high of $96.74. The business has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $86.72. 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 issued its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter last year, the company posted $0.78 earnings per share. Equities analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Wall Street Analyst Weigh In

SPB has been the subject of a number of research reports. UBS Group dropped their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada dropped their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price objective 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.