Bank of Montreal Can Acquires 40,723 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bank of Montreal Can lifted its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,518 shares of the company’s stock after buying an additional 40,723 shares during the quarter. Bank of Montreal Can owned about 0.57% of Spectrum Brands worth $14,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Waldron Private Wealth LLC acquired a new stake in Spectrum Brands in the third quarter worth $27,000. Versant Capital Management Inc grew its stake in shares of Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares during the period. International Assets Investment Management LLC increased its position in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after buying an additional 261 shares during the period. Finally, Quarry LP boosted its holdings in Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after acquiring an additional 450 shares in the last quarter.

Spectrum Brands Stock Up 0.2 %

SPB opened at $91.95 on Friday. Spectrum Brands Holdings, Inc. has a fifty-two week low of $67.34 and a fifty-two week high of $96.74. The firm has a market capitalization of $2.58 billion, a P/E ratio of 22.54, a PEG ratio of 1.60 and a beta of 1.23. The company’s 50-day moving average is $91.36 and its 200 day moving average is $89.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

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

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.04%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Analysts Set New Price Targets

SPB has been the topic of a number of research reports. Wells Fargo & Company upped their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. UBS Group upped their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Five investment 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 has an average rating of “Hold” and an average target price of $102.38.

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.