Pzena Investment Management LLC Trims Stock Position in Spectrum Brands Holdings Inc. $SPB

Pzena Investment Management LLC cut its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,401,948 shares of the company’s stock after selling 57,537 shares during the quarter. Pzena Investment Management LLC owned approximately 0.10% of Spectrum Brands worth $141,907,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPB. Amundi purchased a new position in shares of Spectrum Brands during the first quarter worth approximately $176,000. Millennium Management LLC increased its position in shares of Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the period. NewEdge Advisors LLC increased its position in shares of Spectrum Brands by 173.0% during the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after acquiring an additional 3,415 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Spectrum Brands by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after acquiring an additional 114,143 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Spectrum Brands by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock worth $7,983,000 after acquiring an additional 6,321 shares during the period.

Wall Street Analysts Forecast Growth

SPB has been the topic of several research reports. Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Oppenheimer lifted their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada set a $85.00 price objective on shares of Spectrum Brands in a report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.20.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $75.47 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.34 and a beta of 0.67. The company’s 50 day moving average is $77.97 and its 200 day moving average is $69.16. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $86.96.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. On average, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, May 26th. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.