Everence Capital Management Inc. Acquires New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Everence Capital Management Inc. bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,540 shares of the company’s stock, valued at approximately $553,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Spectrum Brands by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after purchasing an additional 112,530 shares during the period. Pzena Investment Management LLC boosted its holdings 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 worth $124,715,000 after buying an additional 123,733 shares during the last quarter. State Street Corp grew its position in shares of Spectrum Brands by 1.3% during the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 shares during the period. Wellington Management Group LLP increased its stake in shares of Spectrum Brands by 7.6% in the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after acquiring an additional 36,063 shares during the last quarter. Finally, Armistice Capital LLC raised its position in shares of Spectrum Brands by 129.4% in the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after acquiring an additional 247,809 shares during the period.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.38.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $83.97 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. Spectrum Brands Holdings, Inc. has a 52 week low of $75.50 and a 52 week high of $96.74. The company’s 50 day moving average price is $89.89 and its two-hundred day moving average price is $89.26. The company has a market capitalization of $2.36 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. 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 was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

About Spectrum Brands

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.