International Assets Investment Management LLC Grows Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

International Assets Investment Management LLC boosted its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1,713.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 399 shares of the company’s stock after buying an additional 377 shares during the quarter. International Assets Investment Management LLC’s holdings in Spectrum Brands were worth $32,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SPB. Allspring Global Investments Holdings LLC increased its position in Spectrum Brands by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207,061 shares of the company’s stock valued at $172,923,000 after acquiring an additional 37,810 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of Spectrum Brands by 14.0% during the 3rd quarter. Alberta Investment Management Corp now owns 693,600 shares of the company’s stock valued at $54,344,000 after purchasing an additional 85,000 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Spectrum Brands by 1,376.7% in the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock worth $25,079,000 after purchasing an additional 298,415 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Spectrum Brands by 84.5% in the third quarter. Heartland Advisors Inc. now owns 240,719 shares of the company’s stock worth $19,906,000 after buying an additional 110,240 shares during the last quarter. Finally, Truist Financial Corp grew its position in Spectrum Brands by 2.7% during the third quarter. Truist Financial Corp now owns 214,148 shares of the company’s stock valued at $16,778,000 after buying an additional 5,585 shares during the period.

Analysts Set New Price Targets

SPB has been the subject of several analyst reports. Canaccord Genuity Group reissued a “hold” rating and issued a $86.00 target price (up from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their price target for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company raised their price target on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada boosted their target price on Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.17.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $81.87 on Thursday. The firm has a 50-day simple moving average of $82.85 and a two-hundred day simple moving average of $79.20. The company has a market cap of $2.48 billion, a P/E ratio of 1.78, a price-to-earnings-growth ratio of 0.57 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $64.82 and a fifty-two week high of $89.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.47. The business had revenue of $692.20 million for the quarter, compared to analyst estimates of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) earnings per share. As a group, equities analysts predict that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Spectrum Brands Profile

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.