Loomis Sayles & Co. L P boosted its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 155.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 272,912 shares of the company’s stock after purchasing an additional 166,160 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Spectrum Brands were worth $20,392,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in SPB. FMR LLC boosted its stake in Spectrum Brands by 149.0% during the 2nd quarter. FMR LLC now owns 6,340,757 shares of the company’s stock valued at $517,533,000 after purchasing an additional 3,793,831 shares during the period. Schroder Investment Management Group lifted its position in shares of Spectrum Brands by 171.2% in the 2nd quarter. Schroder Investment Management Group now owns 2,053,842 shares of the company’s stock worth $106,533,000 after acquiring an additional 1,296,429 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $84,265,000. BlackRock Inc. lifted its position in shares of Spectrum Brands by 95.2% in the 3rd quarter. BlackRock Inc. now owns 1,773,507 shares of the company’s stock worth $132,517,000 after acquiring an additional 865,154 shares during the period. Finally, First Manhattan Co. lifted its position in shares of Spectrum Brands by 702.7% in the 3rd quarter. First Manhattan Co. now owns 759,015 shares of the company’s stock worth $56,713,000 after acquiring an additional 664,463 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.
Spectrum Brands stock opened at $47.32 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 2.93. The company has a market cap of $2.55 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.63 and a beta of 1.57. Spectrum Brands Holdings Inc has a one year low of $45.88 and a one year high of $119.94.
Spectrum Brands (NYSE:SPB) last posted its earnings results on Wednesday, November 21st. The company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.29). The company had revenue of $787.80 million for the quarter, compared to the consensus estimate of $803.72 million. Spectrum Brands had a negative return on equity of 2.43% and a net margin of 23.26%. Spectrum Brands’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings Inc will post 3.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, November 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.55%. Spectrum Brands’s dividend payout ratio (DPR) is presently 47.46%.
SPB has been the subject of a number of research reports. Bank of America reduced their price objective on Spectrum Brands from $91.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, October 4th. Wells Fargo & Co reiterated a “hold” rating and issued a $70.00 price objective on shares of Spectrum Brands in a research report on Thursday, November 15th. Zacks Investment Research upgraded Spectrum Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Monness Crespi & Hardt reduced their price objective on Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Finally, Royal Bank of Canada reduced their price objective on Spectrum Brands to $75.00 and set an “outperform” rating for the company in a research report on Monday, November 26th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Spectrum Brands currently has an average rating of “Buy” and an average target price of $96.58.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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