Loomis Sayles & Co. L P Trims Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Loomis Sayles & Co. L P decreased its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.1% in the third quarter, HoldingsChannel.com reports. The fund owned 71,628 shares of the company’s stock after selling 3,082 shares during the period. Loomis Sayles & Co. L P’s holdings in Spectrum Brands were worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after buying an additional 112,530 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 10.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after buying an additional 123,733 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after buying an additional 247,809 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Spectrum Brands by 28.6% during the 2nd quarter. Gabelli Funds LLC now owns 212,994 shares of the company’s stock valued at $18,303,000 after buying an additional 47,400 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Spectrum Brands by 34.2% during the 3rd quarter. Algert Global LLC now owns 151,050 shares of the company’s stock valued at $14,371,000 after buying an additional 38,514 shares during the last quarter.

Spectrum Brands Trading Up 0.4 %

SPB stock opened at $91.73 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 12-month low of $66.07 and a 12-month high of $96.74. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.59 and a beta of 1.23. The business’s 50-day moving average is $91.42 and its 200 day moving average is $89.70.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data 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). 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 analyst estimates of $747.80 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 EPS 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. Investors of record on Tuesday, November 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.05%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s payout ratio is presently 46.08%.

Analysts Set New Price Targets

SPB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group lifted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th. UBS Group raised their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.38.

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.