Confluence Investment Management LLC Reduces Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Confluence Investment Management LLC reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,095 shares of the company’s stock after selling 756 shares during the period. Confluence Investment Management LLC owned about 0.15% of Spectrum Brands worth $3,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands during the 3rd quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in Spectrum Brands during the third quarter worth approximately $31,000. International Assets Investment Management LLC boosted its holdings in Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares in the last quarter. Quarry LP raised its holdings in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after purchasing an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands during the 2nd quarter worth approximately $50,000.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their target price 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Spectrum Brands has an average rating of “Moderate Buy” and an average price target of $102.38.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $83.53 on Friday. Spectrum Brands Holdings, Inc. has a one year low of $75.50 and a one year high of $96.74. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.58 and a beta of 1.19. The company has a 50-day simple moving average of $90.00 and a 200-day simple moving average of $89.30. 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 posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. During the same period in the prior year, the company earned $1.36 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

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

Spectrum Brands Company 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.