KLP Kapitalforvaltning AS Invests $624,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

KLP Kapitalforvaltning AS acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,380 shares of the company’s stock, valued at approximately $624,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands during the 4th quarter worth approximately $50,000. Quantbot Technologies LP acquired a new position in Spectrum Brands during the third quarter worth $62,000. Quarry LP raised its position in Spectrum Brands by 70.9% during the third quarter. Quarry LP now owns 974 shares of the company’s stock worth $93,000 after acquiring an additional 404 shares in the last quarter. Blue Trust Inc. raised its position in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock worth $100,000 after acquiring an additional 375 shares in the last quarter. Finally, KBC Group NV lifted its stake in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock valued at $104,000 after acquiring an additional 390 shares during the last quarter.

Spectrum Brands Trading Up 0.5 %

NYSE SPB opened at $71.52 on Thursday. Spectrum Brands Holdings, Inc. has a 12 month low of $68.74 and a 12 month high of $96.74. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.88 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The business’s 50-day moving average price is $76.55 and its two-hundred day moving average price is $85.13.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $0.78 earnings per share. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.63%. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

A number of brokerages have weighed in on SPB. Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. UBS Group dropped their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and an average target price of $101.57.

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.