Russell Investments Group Ltd. Sells 10,753 Shares of Spectrum Brands Holdings, Inc. (SPB)

Russell Investments Group Ltd. cut its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,566 shares of the company’s stock after selling 10,753 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Spectrum Brands worth $11,923,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in Spectrum Brands by 33.3% during the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock worth $100,000 after purchasing an additional 200 shares during the period. Pacad Investment Ltd. purchased a new stake in Spectrum Brands during the second quarter worth about $113,000. Toronto Dominion Bank increased its stake in Spectrum Brands by 244.3% during the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after purchasing an additional 794 shares during the period. FNY Partners Fund LP purchased a new stake in Spectrum Brands during the second quarter worth about $187,000. Finally, SG Americas Securities LLC increased its stake in Spectrum Brands by 50.6% during the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock worth $198,000 after purchasing an additional 533 shares during the period. Institutional investors own 48.32% of the company’s stock.

Shares of Spectrum Brands Holdings, Inc. (SPB) opened at $114.21 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.75 and a current ratio of 1.44. Spectrum Brands Holdings, Inc. has a one year low of $98.11 and a one year high of $146.09. The firm has a market cap of $6,581.47, a P/E ratio of 20.92, a P/E/G ratio of 1.82 and a beta of 0.76.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.12). Spectrum Brands had a return on equity of 17.48% and a net margin of 5.91%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. analysts predict that Spectrum Brands Holdings, Inc. will post 6.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.47%. Spectrum Brands’s payout ratio is 33.33%.

A number of analysts have issued reports on the stock. Oppenheimer reiterated a “buy” rating and set a $167.00 price target on shares of Spectrum Brands in a research note on Monday, November 20th. BMO Capital Markets set a $132.00 price target on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Spectrum Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. KeyCorp set a $130.00 price target on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Bank of America boosted their price target on shares of Spectrum Brands from $113.00 to $116.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $137.25.

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Spectrum Brands Profile

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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