Norges Bank Acquires Shares of 83,585 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Norges Bank acquired a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the fourth quarter, HoldingsChannel reports. The firm acquired 83,585 shares of the company’s stock, valued at approximately $7,062,000.

Several other large investors have also recently made changes to their positions in the company. LPL Financial LLC grew its holdings in Spectrum Brands by 10.1% during the 4th quarter. LPL Financial LLC now owns 7,284 shares of the company’s stock valued at $615,000 after buying an additional 669 shares in the last quarter. Fox Run Management L.L.C. boosted its position in shares of Spectrum Brands by 5.3% during the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company’s stock valued at $308,000 after acquiring an additional 185 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Spectrum Brands in the fourth quarter valued at $624,000. AXQ Capital LP increased its position in Spectrum Brands by 9.9% in the fourth quarter. AXQ Capital LP now owns 10,800 shares of the company’s stock worth $912,000 after purchasing an additional 974 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Spectrum Brands by 2.0% during the fourth quarter. Sei Investments Co. now owns 211,412 shares of the company’s stock valued at $17,862,000 after purchasing an additional 4,050 shares in the last quarter.

Spectrum Brands Trading Down 4.0 %

Shares of NYSE SPB opened at $58.45 on Wednesday. The business’s 50 day moving average price is $74.14 and its 200-day moving average price is $84.04. Spectrum Brands Holdings, Inc. has a fifty-two week low of $57.93 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate 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 earned $0.78 earnings per share. On average, 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 business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPB shares. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group dropped their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada cut their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.57.

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.