Fifth Third Bancorp Acquires New Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Fifth Third Bancorp bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 890 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after buying an additional 121 shares during the period. Arizona State Retirement System boosted its position in Spectrum Brands by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 11,675 shares of the company’s stock worth $915,000 after buying an additional 158 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Spectrum Brands by 53.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after buying an additional 160 shares during the period. Principal Financial Group Inc. boosted its position in Spectrum Brands by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,156 shares of the company’s stock worth $247,000 after buying an additional 166 shares during the period. Finally, GSA Capital Partners LLP boosted its position in Spectrum Brands by 0.8% during the 3rd quarter. GSA Capital Partners LLP now owns 27,453 shares of the company’s stock worth $2,151,000 after buying an additional 226 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and lifted their target price for the stock from $83.00 to $86.00 in a research report on Friday, February 9th. Wells Fargo & Company boosted their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Royal Bank of Canada boosted their price target on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, Monness Crespi & Hardt boosted their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands currently has an average rating of “Hold” and a consensus target price of $89.17.

Spectrum Brands Stock Down 3.0 %

Spectrum Brands stock opened at $81.47 on Thursday. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. Spectrum Brands Holdings, Inc. has a 12-month low of $63.64 and a 12-month high of $89.64. The firm’s fifty day moving average is $83.51 and its 200 day moving average is $78.79. The company has a market capitalization of $2.47 billion, a PE ratio of 1.77, a PEG ratio of 0.58 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company had revenue of $692.20 million for the quarter, compared to the consensus estimate of $674.20 million. During the same quarter in the previous year, the company earned ($0.32) EPS. Spectrum Brands’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. Spectrum Brands’s payout ratio is presently 3.65%.

Spectrum Brands Company Profile

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.