Spectrum Brands Holdings Inc. $SPB Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 22.7% during the 4th quarter, Holdings Channel reports. The firm owned 237,898 shares of the company’s stock after selling 69,912 shares during the quarter. Gabelli Funds LLC’s holdings in Spectrum Brands were worth $14,055,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after buying an additional 335 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Spectrum Brands in the second quarter worth about $41,000. State of Alaska Department of Revenue purchased a new position in shares of Spectrum Brands in the third quarter worth about $49,000. Finally, Quarry LP purchased a new position in shares of Spectrum Brands in the third quarter worth about $51,000.

Spectrum Brands Price Performance

Shares of SPB opened at $73.02 on Wednesday. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $86.96. The stock has a market cap of $1.69 billion, a PE ratio of 13.94, a P/E/G ratio of 2.42 and a beta of 0.67. The firm has a 50-day simple moving average of $78.01 and a two-hundred day simple moving average of $68.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

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

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.6%. Spectrum Brands’s dividend payout ratio (DPR) is currently 35.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPB shares. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Canaccord Genuity Group raised their price target on shares of Spectrum Brands from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Oppenheimer raised their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a research note on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.20.

Spectrum Brands Profile

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.