The Manufacturers Life Insurance Company Sells 222 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

The Manufacturers Life Insurance Company trimmed its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,717 shares of the company’s stock after selling 222 shares during the period. The Manufacturers Life Insurance Company’s holdings in Spectrum Brands were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPB. Waldron Private Wealth LLC acquired a new stake in Spectrum Brands in the 3rd quarter worth $27,000. International Assets Investment Management LLC grew its position in Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after buying an additional 471 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Spectrum Brands by 92.2% during the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after acquiring an additional 261 shares during the period. Quarry LP raised its holdings in Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $50,000.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Five 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, the company currently has an average rating of “Hold” and a consensus target price of $102.38.

Spectrum Brands Price Performance

Shares of SPB stock opened at $90.48 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The stock’s fifty day simple moving average is $91.45 and its 200 day simple moving average is $89.68. Spectrum Brands Holdings, Inc. has a one year low of $75.50 and a one year high of $96.74. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.58 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same period in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.08%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

Spectrum Brands Company 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.