Parametric Portfolio Associates LLC Increases Stake in Spectrum Brands Holdings Inc (NYSE:SPB)

Parametric Portfolio Associates LLC lifted its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 323,516 shares of the company’s stock after purchasing an additional 36,073 shares during the period. Parametric Portfolio Associates LLC owned about 0.66% of Spectrum Brands worth $17,056,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SPB. Envestnet Asset Management Inc. grew its holdings in shares of Spectrum Brands by 1.9% in the third quarter. Envestnet Asset Management Inc. now owns 18,687 shares of the company’s stock worth $985,000 after purchasing an additional 341 shares during the last quarter. First Mercantile Trust Co. boosted its position in Spectrum Brands by 10.2% during the 3rd quarter. First Mercantile Trust Co. now owns 3,698 shares of the company’s stock valued at $195,000 after buying an additional 342 shares during the period. Voya Investment Management LLC grew its holdings in Spectrum Brands by 5.9% in the 3rd quarter. Voya Investment Management LLC now owns 6,617 shares of the company’s stock worth $348,000 after acquiring an additional 368 shares during the last quarter. Bank of Montreal Can grew its holdings in Spectrum Brands by 0.3% in the 2nd quarter. Bank of Montreal Can now owns 121,493 shares of the company’s stock worth $6,533,000 after acquiring an additional 382 shares during the last quarter. Finally, OLD National Bancorp IN grew its holdings in Spectrum Brands by 4.6% in the 3rd quarter. OLD National Bancorp IN now owns 10,066 shares of the company’s stock worth $531,000 after acquiring an additional 439 shares during the last quarter.

Shares of NYSE SPB opened at $63.26 on Friday. Spectrum Brands Holdings Inc has a fifty-two week low of $40.54 and a fifty-two week high of $66.50. The company has a 50 day simple moving average of $56.43 and a two-hundred day simple moving average of $54.24. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 0.87 and a beta of 1.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.97 and a current ratio of 1.45.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Spectrum Brands had a return on equity of 7.17% and a net margin of 12.32%. The firm had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $990.38 million. During the same period in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts forecast that Spectrum Brands Holdings Inc will post 3.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, November 25th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.68 annualized dividend and a yield of 2.66%. Spectrum Brands’s dividend payout ratio (DPR) is presently 58.74%.

Several brokerages have recently commented on SPB. Royal Bank of Canada reaffirmed a “buy” rating and set a $68.00 price objective on shares of Spectrum Brands in a research note on Sunday, August 11th. Wells Fargo & Co reduced their target price on Spectrum Brands from $53.00 to $52.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, ValuEngine lowered shares of Spectrum Brands from a “hold” rating to a “sell” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Spectrum Brands has a consensus rating of “Hold” and a consensus price target of $56.79.

About Spectrum Brands

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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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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