Millennium Management LLC increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 296.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 717,699 shares of the company’s stock after acquiring an additional 536,798 shares during the period. Millennium Management LLC owned approximately 1.24% of Spectrum Brands worth $80,669,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swiss National Bank grew its position in Spectrum Brands by 0.5% in the fourth quarter. Swiss National Bank now owns 97,200 shares of the company’s stock worth $10,925,000 after acquiring an additional 500 shares in the last quarter. Texas Yale Capital Corp. boosted its position in shares of Spectrum Brands by 4.4% during the third quarter. Texas Yale Capital Corp. now owns 12,120 shares of the company’s stock valued at $1,284,000 after buying an additional 510 shares during the period. California Public Employees Retirement System boosted its position in shares of Spectrum Brands by 1.3% during the third quarter. California Public Employees Retirement System now owns 43,041 shares of the company’s stock valued at $4,559,000 after buying an additional 541 shares during the period. Sei Investments Co. boosted its position in shares of Spectrum Brands by 8.2% during the third quarter. Sei Investments Co. now owns 7,730 shares of the company’s stock valued at $819,000 after buying an additional 583 shares during the period. Finally, Commerce Bank boosted its position in shares of Spectrum Brands by 32.4% during the third quarter. Commerce Bank now owns 3,045 shares of the company’s stock valued at $323,000 after buying an additional 745 shares during the period. Institutional investors own 48.28% of the company’s stock.
Shares of Spectrum Brands Holdings, Inc. (NYSE SPB) opened at $95.79 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.19 and a current ratio of 2.70. Spectrum Brands Holdings, Inc. has a 12 month low of $91.78 and a 12 month high of $146.09. The firm has a market cap of $5,385.77, a P/E ratio of 14.28, a PEG ratio of 1.46 and a beta of 0.84.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. Spectrum Brands had a net margin of 8.80% and a return on equity of 14.51%. The firm had revenue of $646.50 million during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 4.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, February 16th. Spectrum Brands’s dividend payout ratio is presently 25.04%.
Several brokerages have issued reports on SPB. BMO Capital Markets dropped their target price on Spectrum Brands from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Jefferies Group restated a “buy” rating and set a $145.00 target price on shares of Spectrum Brands in a research report on Tuesday, January 9th. Wells Fargo restated a “buy” rating on shares of Spectrum Brands in a research report on Tuesday, January 16th. KeyCorp set a $130.00 target price on Spectrum Brands and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, Bank of America boosted their target price on Spectrum Brands from $113.00 to $116.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $140.60.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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