Raymond James Financial Services Advisors Inc. increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 66.3% during the first quarter, Holdings Channel reports. The firm owned 20,719 shares of the company’s stock after buying an additional 8,262 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Spectrum Brands Holdings were worth $2,880,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SPB. Virginia Retirement Systems ET AL acquired a new position in Spectrum Brands Holdings during the third quarter valued at about $1,749,000. LMR Partners LLP acquired a new position in Spectrum Brands Holdings during the third quarter valued at about $3,473,000. Cypress Funds LLC boosted its position in Spectrum Brands Holdings by 6.1% in the third quarter. Cypress Funds LLC now owns 139,000 shares of the company’s stock valued at $19,139,000 after buying an additional 8,000 shares during the last quarter. BlackRock Fund Advisors boosted its position in Spectrum Brands Holdings by 0.3% in the third quarter. BlackRock Fund Advisors now owns 234,890 shares of the company’s stock valued at $32,342,000 after buying an additional 653 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Spectrum Brands Holdings by 28.9% in the third quarter. Teachers Advisors LLC now owns 27,898 shares of the company’s stock valued at $3,841,000 after buying an additional 6,247 shares during the last quarter. Institutional investors and hedge funds own 47.83% of the company’s stock.
Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) traded up 0.53% on Friday, hitting $130.05. The stock had a trading volume of 335,910 shares. Spectrum Brands Holdings, Inc. has a 12-month low of $111.40 and a 12-month high of $146.09. The company’s 50-day moving average price is $136.80 and its 200 day moving average price is $131.12. The firm has a market cap of $7.65 billion, a P/E ratio of 24.57 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by $0.07. Spectrum Brands Holdings had a return on equity of 18.03% and a net margin of 6.58%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post $5.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 16th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, May 12th. Spectrum Brands Holdings’s dividend payout ratio is presently 30.22%.
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Several research analysts have issued reports on SPB shares. Zacks Investment Research cut Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, January 19th. Wells Fargo & Co reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research report on Thursday, January 26th. Jefferies Group LLC increased their price objective on Spectrum Brands Holdings from $147.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. BMO Capital Markets set a $155.00 price objective on Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Friday, January 27th. Finally, Royal Bank of Canada started coverage on Spectrum Brands Holdings in a research report on Tuesday, March 14th. They issued an “outperform” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Spectrum Brands Holdings presently has an average rating of “Buy” and a consensus target price of $151.63.
About Spectrum Brands Holdings
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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