Bank of Montreal Can Raises Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bank of Montreal Can boosted its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 34.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 158,518 shares of the company’s stock after purchasing an additional 40,723 shares during the period. Bank of Montreal Can’s holdings in Spectrum Brands were worth $14,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TCW Group Inc. lifted its position in shares of Spectrum Brands by 25.2% during the 2nd quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock valued at $10,901,000 after buying an additional 25,551 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Spectrum Brands during the second quarter valued at about $3,119,000. Los Angeles Capital Management LLC bought a new position in Spectrum Brands during the second quarter worth about $630,000. International Assets Investment Management LLC increased its stake in shares of Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Spectrum Brands in the second quarter valued at approximately $6,874,000.

Analyst Ratings Changes

SPB has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Canaccord Genuity Group raised their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note 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 company. According to MarketBeat, Spectrum Brands has a consensus rating of “Hold” and an average price target of $102.38.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $91.95 on Friday. The stock’s 50-day simple moving average is $91.36 and its two-hundred day simple moving average is $89.65. Spectrum Brands Holdings, Inc. has a twelve month low of $67.34 and a twelve month high of $96.74. The firm has a market capitalization of $2.58 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.60 and a beta of 1.23. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. As a group, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.04%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is 46.08%.

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.