Truist Financial Corp Has $716,000 Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Truist Financial Corp lessened its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,337 shares of the company’s stock after selling 918 shares during the period. Truist Financial Corp’s holdings in Spectrum Brands were worth $716,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SPB. Fidelis Capital Partners LLC bought a new position in shares of Spectrum Brands during the first quarter valued at $27,000. Central Pacific Bank Trust Division bought a new position in Spectrum Brands during the 1st quarter valued at about $30,000. Versant Capital Management Inc boosted its position in Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Spectrum Brands during the first quarter worth about $42,000. Finally, Quarry LP increased its holdings in shares of Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after buying an additional 450 shares in the last quarter.

Spectrum Brands Stock Performance

NYSE SPB opened at $91.68 on Tuesday. The firm’s fifty day moving average price is $91.31 and its two-hundred day moving average price is $88.01. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The firm has a market capitalization of $2.57 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 0.25 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

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

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Tuesday, August 27th. Spectrum Brands’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

SPB has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company lifted their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. UBS Group increased 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. Finally, Canaccord Genuity Group dropped their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.