Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,800 shares of the company’s stock after selling 400 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Spectrum Brands were worth $742,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Spectrum Brands by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 21,055 shares of the company’s stock valued at $2,003,000 after purchasing an additional 1,273 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Spectrum Brands by 120.7% in the third quarter. Venturi Wealth Management LLC now owns 1,143 shares of the company’s stock valued at $109,000 after buying an additional 625 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Spectrum Brands by 1.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock worth $2,043,000 after buying an additional 345 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Spectrum Brands by 6.6% during the third quarter. Janney Montgomery Scott LLC now owns 8,316 shares of the company’s stock worth $791,000 after acquiring an additional 516 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after acquiring an additional 261 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Spectrum Brands Trading Down 6.1 %

Shares of Spectrum Brands stock opened at $88.18 on Friday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.26 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. Spectrum Brands Holdings, Inc. has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The stock has a 50 day moving average of $91.57 and a 200 day moving average of $89.38.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. Spectrum Brands’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. As a group, research analysts predict that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.13%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is 47.46%.

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.