Janney Montgomery Scott LLC Purchases 516 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Janney Montgomery Scott LLC raised its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 6.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,316 shares of the company’s stock after acquiring an additional 516 shares during the period. Janney Montgomery Scott LLC’s holdings in Spectrum Brands were worth $791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Spectrum Brands by 5.7% during the 1st quarter. Russell Investments Group Ltd. now owns 54,154 shares of the company’s stock valued at $4,820,000 after purchasing an additional 2,927 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Spectrum Brands during the 1st quarter valued at approximately $42,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Spectrum Brands by 19.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,827 shares of the company’s stock valued at $3,995,000 after acquiring an additional 7,227 shares during the last quarter. Natixis boosted its position in shares of Spectrum Brands by 402.5% during the 1st quarter. Natixis now owns 28,589 shares of the company’s stock valued at $2,545,000 after acquiring an additional 22,900 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Spectrum Brands by 50.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock valued at $20,644,000 after acquiring an additional 77,835 shares during the last quarter.

Spectrum Brands Trading Down 6.0 %

Spectrum Brands stock opened at $88.22 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.25 and a beta of 1.23. The stock has a 50-day moving average price of $91.49 and a 200 day moving average price of $89.48.

Spectrum Brands (NYSE:SPB) last released 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). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The firm had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same period last year, the firm earned $1.36 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 6.12 EPS for the current year.

Spectrum Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.13%. Spectrum Brands’s payout ratio is 41.18%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SPB shares. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. UBS Group raised their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Hold” and an average price target of $101.88.

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.