Arizona State Retirement System Sells 1,228 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Arizona State Retirement System lowered its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 12.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,475 shares of the company’s stock after selling 1,228 shares during the period. Arizona State Retirement System’s holdings in Spectrum Brands were worth $728,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas raised its holdings in Spectrum Brands by 44.2% in the 4th quarter. Teacher Retirement System of Texas now owns 4,570 shares of the company’s stock valued at $365,000 after acquiring an additional 1,400 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Spectrum Brands in the fourth quarter valued at $579,000. Brown Advisory Inc. acquired a new position in shares of Spectrum Brands in the fourth quarter valued at $1,047,000. Norges Bank bought a new position in Spectrum Brands in the fourth quarter worth $20,652,000. Finally, Franklin Resources Inc. boosted its stake in Spectrum Brands by 20.8% during the fourth quarter. Franklin Resources Inc. now owns 31,175 shares of the company’s stock worth $2,487,000 after buying an additional 5,375 shares in the last quarter.

Analyst Ratings Changes

SPB has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group decreased their price target on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.88.

Spectrum Brands Stock Performance

Shares of NYSE:SPB opened at $92.88 on Monday. The business has a fifty day moving average of $87.78 and a 200-day moving average of $86.85. The firm has a market cap of $2.60 billion, a PE ratio of 1.88, a price-to-earnings-growth ratio of 0.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. During the same period in the prior year, the firm posted $0.75 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

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.