American Century Companies Inc. Reduces Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

American Century Companies Inc. lessened its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,221,383 shares of the company’s stock after selling 133,720 shares during the period. American Century Companies Inc. owned approximately 4.36% of Spectrum Brands worth $104,953,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands in the second quarter valued at $50,000. Choreo LLC bought a new position in Spectrum Brands during the 2nd quarter valued at about $252,000. Oak Thistle LLC purchased a new stake in Spectrum Brands in the 2nd quarter worth about $255,000. Anchor Capital Advisors LLC lifted its stake in Spectrum Brands by 3.0% in the second quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock worth $1,335,000 after purchasing an additional 448 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Spectrum Brands during the second quarter valued at approximately $3,119,000.

Spectrum Brands Trading Up 2.9 %

NYSE SPB opened at $92.88 on Friday. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1.88, a price-to-earnings-growth ratio of 0.32 and a beta of 1.22. The company’s 50-day simple moving average is $87.78 and its two-hundred day simple moving average is $86.77.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.25). The business had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Equities analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Wells Fargo & Company increased their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Five equities research 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 company presently has an average rating of “Hold” and a consensus target price of $101.88.

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.