Bank of Montreal Can Decreases Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Bank of Montreal Can trimmed its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,071 shares of the company’s stock after selling 36,447 shares during the quarter. Bank of Montreal Can owned 0.45% of Spectrum Brands worth $10,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC purchased a new stake in shares of Spectrum Brands during the fourth quarter worth about $16,606,000. Trexquant Investment LP grew its position in Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock worth $12,563,000 after purchasing an additional 143,068 shares during the last quarter. Norges Bank acquired a new position in Spectrum Brands during the 4th quarter valued at approximately $7,062,000. ExodusPoint Capital Management LP raised its holdings in shares of Spectrum Brands by 233.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 88,539 shares of the company’s stock worth $7,481,000 after buying an additional 61,984 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of Spectrum Brands by 37.9% in the fourth quarter. Great Lakes Advisors LLC now owns 152,068 shares of the company’s stock worth $12,848,000 after buying an additional 41,792 shares during the last quarter.

Spectrum Brands Stock Up 0.4 %

Shares of SPB stock opened at $61.49 on Monday. Spectrum Brands Holdings, Inc. has a twelve month low of $57.93 and a twelve month high of $96.74. The stock has a market cap of $1.62 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.70 and a beta of 1.03. The stock has a 50 day moving average of $72.44 and a 200 day moving average of $83.20. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the business posted $0.78 earnings per share. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands’s payout ratio is currently 46.19%.

Analyst Upgrades and Downgrades

SPB has been the topic of several research reports. UBS Group cut their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reduced their price objective on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Wells Fargo & Company decreased their target price on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Finally, Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.57.

About Spectrum Brands

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.