Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,213 shares of the company’s stock after selling 336 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Spectrum Brands were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPB. Waldron Private Wealth LLC purchased a new position in shares of Spectrum Brands during the 3rd quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after acquiring an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Spectrum Brands during the first quarter worth approximately $42,000. International Assets Investment Management LLC raised its holdings in shares of Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 shares during the period. Finally, Quarry LP boosted its holdings in Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares during the last quarter.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $90.26 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.61. The business has a 50 day simple moving average of $91.50 and a 200-day simple moving average of $89.62. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $96.74. The stock has a market capitalization of $2.53 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.

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

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.88 annualized dividend and a yield of 2.08%. Spectrum Brands’s payout ratio is presently 41.18%.

Analysts Set New Price Targets

Several brokerages have weighed in on SPB. Wells Fargo & Company increased their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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 raised their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday. Finally, UBS Group boosted their price target 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands currently has an average rating of “Hold” and an average price target of $102.38.

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.