Price T Rowe Associates Inc. MD Has $1.62 Million Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Price T Rowe Associates Inc. MD increased its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,205 shares of the company’s stock after purchasing an additional 747 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Spectrum Brands were worth $1,623,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in Spectrum Brands during the fourth quarter valued at approximately $16,606,000. Trexquant Investment LP increased its stake in Spectrum Brands by 2,541.2% in the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock valued at $12,563,000 after buying an additional 143,068 shares during the last quarter. Callodine Capital Management LP raised its holdings in Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after acquiring an additional 121,000 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Spectrum Brands by 261.9% in the 4th quarter. First Trust Advisors LP now owns 163,143 shares of the company’s stock valued at $13,784,000 after buying an additional 118,060 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $7,062,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPB. UBS Group decreased their target price on Spectrum Brands from $106.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada lowered their price objective on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company decreased their target price on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.43.

Spectrum Brands Stock Performance

NYSE SPB opened at $64.06 on Friday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.70 and a beta of 1.00. The stock has a fifty day simple moving average of $66.26 and a 200 day simple moving average of $79.41. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a twelve month low of $56.50 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The business had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the business posted $1.62 earnings per share. Sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.93%. Spectrum Brands’s dividend payout ratio is currently 46.19%.

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.