City Center Advisors LLC Purchases New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

City Center Advisors LLC acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,623 shares of the company’s stock, valued at approximately $306,000.

A number of other hedge funds have also recently added to or reduced their stakes in SPB. Choreo LLC acquired a new position in shares of Spectrum Brands during the second quarter worth $252,000. Headlands Technologies LLC bought a new stake in Spectrum Brands during the 2nd quarter worth $50,000. DekaBank Deutsche Girozentrale increased its holdings in Spectrum Brands by 24.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after purchasing an additional 240 shares in the last quarter. Federated Hermes Inc. raised its position in Spectrum Brands by 8.9% in the second quarter. Federated Hermes Inc. now owns 10,480 shares of the company’s stock valued at $901,000 after purchasing an additional 860 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Spectrum Brands during the second quarter valued at about $237,000.

Analyst Ratings Changes

Several brokerages have issued reports on SPB. Canaccord Genuity Group upped their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company reduced their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $102.13.

Spectrum Brands Trading Down 1.4 %

Shares of SPB stock opened at $83.56 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of 20.48, a PEG ratio of 1.58 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $96.74. The stock has a 50 day simple moving average of $89.28 and a two-hundred day simple moving average of $89.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30.

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

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio is 46.08%.

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.