Blue Trust Inc. Reduces Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Blue Trust Inc. cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 16.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 673 shares of the company’s stock after selling 134 shares during the quarter. Blue Trust Inc.’s holdings in Spectrum Brands were worth $57,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SPB. Harvey Partners LLC purchased a new stake in Spectrum Brands in the 3rd quarter worth approximately $19,837,000. Verition Fund Management LLC increased its holdings in shares of Spectrum Brands by 295.5% in the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock worth $17,388,000 after purchasing an additional 136,556 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Spectrum Brands by 10.4% in the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock worth $124,715,000 after purchasing an additional 123,733 shares during the period. Cinctive Capital Management LP purchased a new stake in shares of Spectrum Brands in the third quarter worth $7,380,000. Finally, National Bank of Canada FI boosted its stake in Spectrum Brands by 10,046.3% during the third quarter. National Bank of Canada FI now owns 44,441 shares of the company’s stock valued at $4,228,000 after buying an additional 44,003 shares during the period.

Spectrum Brands Stock Performance

Shares of NYSE SPB opened at $79.67 on Wednesday. The stock’s 50-day moving average is $83.02 and its 200 day moving average is $88.60. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 1-year low of $74.72 and a 1-year high of $96.74. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SPB shares. Royal Bank of Canada decreased their target price 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. UBS Group decreased their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.43.

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.