Bridgefront Capital LLC Takes Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bridgefront Capital LLC purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,395 shares of the company’s stock, valued at approximately $456,000.

Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Spectrum Brands during the 4th quarter valued at about $50,000. Blue Trust Inc. lifted its stake in shares of Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV boosted its holdings in shares of Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after purchasing an additional 390 shares during the period. Summit Trail Advisors LLC purchased a new position in shares of Spectrum Brands in the 4th quarter worth approximately $237,000. Finally, City Center Advisors LLC bought a new position in shares of Spectrum Brands during the 4th quarter valued at approximately $306,000.

Analysts Set New Price Targets

Several research firms have commented on SPB. Royal Bank of Canada dropped their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. UBS Group decreased their price objective on shares of Spectrum Brands from $106.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.43.

Spectrum Brands Stock Down 2.8 %

Shares of NYSE SPB opened at $63.07 on Wednesday. Spectrum Brands Holdings, Inc. has a 52-week low of $57.66 and a 52-week high of $96.74. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.70 and a beta of 1.00. The stock has a 50 day moving average price of $66.80 and a 200 day moving average price of $79.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter in the prior year, the business posted $0.78 EPS. Sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Spectrum Brands Profile

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.