City Center Advisors LLC Takes $306,000 Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

City Center Advisors LLC acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,623 shares of the company’s stock, valued at approximately $306,000.

Several other large investors have also bought and sold shares of SPB. Choreo LLC acquired a new position in shares of Spectrum Brands in the 2nd quarter valued at $252,000. Headlands Technologies LLC acquired a new position in Spectrum Brands during the 2nd quarter worth approximately $50,000. DekaBank Deutsche Girozentrale boosted its holdings in Spectrum Brands by 24.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after purchasing an additional 240 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Spectrum Brands by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 10,480 shares of the company’s stock worth $901,000 after buying an additional 860 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Spectrum Brands in the second quarter valued at approximately $237,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SPB shares. Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Spectrum Brands has a consensus rating of “Moderate Buy” and a consensus price target of $102.13.

Spectrum Brands Price Performance

SPB stock opened at $83.56 on Monday. The company’s 50-day moving average price is $89.28 and its two-hundred day moving average price is $89.11. The firm has a market cap of $2.34 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.58 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 12 month low of $75.50 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same period last year, the business earned $1.36 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s payout ratio is 46.08%.

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.