Gabelli Funds LLC trimmed its position in Spectrum Brands Holdings Inc (NYSE:SPB) by 47.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the company’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Spectrum Brands were worth $301,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SPB. PRW Wealth Management LLC acquired a new stake in shares of Spectrum Brands during the 4th quarter worth $27,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Spectrum Brands by 100.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,000 shares of the company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Spectrum Brands during the 4th quarter worth $46,000. Quantamental Technologies LLC acquired a new stake in shares of Spectrum Brands during the 4th quarter worth $68,000. Finally, Captrust Financial Advisors grew its holdings in shares of Spectrum Brands by 16.5% during the 4th quarter. Captrust Financial Advisors now owns 1,810 shares of the company’s stock worth $76,000 after purchasing an additional 256 shares in the last quarter.
Several analysts have recently issued reports on SPB shares. Bank of America raised Spectrum Brands from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $65.00 in a report on Friday, January 18th. Zacks Investment Research lowered Spectrum Brands from a “hold” rating to a “strong sell” rating in a report on Monday, January 21st. Deutsche Bank increased their target price on Spectrum Brands from $52.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Wells Fargo & Co reissued a “hold” rating and set a $62.00 target price on shares of Spectrum Brands in a report on Wednesday, May 8th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $77.00 target price (up from $64.00) on shares of Spectrum Brands in a report on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Spectrum Brands currently has an average rating of “Buy” and a consensus target price of $62.15.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.12). The business had revenue of $906.70 million during the quarter, compared to analyst estimates of $874.57 million. Spectrum Brands had a net margin of 24.97% and a return on equity of 6.03%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Equities analysts predict that Spectrum Brands Holdings Inc will post 2.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, May 13th. Spectrum Brands’s dividend payout ratio (DPR) is presently 47.46%.
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Spectrum Brands Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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