Bank of America Corp DE raised its holdings in shares of Spectrum Brands Holdings Inc (NYSE:SPB) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,992 shares of the company’s stock after purchasing an additional 20,172 shares during the quarter. Bank of America Corp DE owned 0.24% of Spectrum Brands worth $5,450,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its holdings in shares of Spectrum Brands by 230.5% in the 3rd quarter. Alliancebernstein L.P. now owns 23,984 shares of the company’s stock valued at $1,792,000 after buying an additional 16,728 shares during the period. BlackRock Inc. boosted its stake in Spectrum Brands by 95.2% in the 3rd quarter. BlackRock Inc. now owns 1,773,507 shares of the company’s stock worth $132,517,000 after purchasing an additional 865,154 shares during the period. Credit Suisse AG boosted its stake in Spectrum Brands by 29.6% in the 3rd quarter. Credit Suisse AG now owns 30,252 shares of the company’s stock worth $2,261,000 after purchasing an additional 6,903 shares during the period. Great West Life Assurance Co. Can boosted its stake in Spectrum Brands by 140.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,588 shares of the company’s stock worth $268,000 after purchasing an additional 2,095 shares during the period. Finally, United Services Automobile Association boosted its stake in Spectrum Brands by 215.9% in the 3rd quarter. United Services Automobile Association now owns 12,085 shares of the company’s stock worth $903,000 after purchasing an additional 8,259 shares during the period.
Shares of NYSE:SPB opened at $61.93 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 1.84. Spectrum Brands Holdings Inc has a one year low of $40.54 and a one year high of $100.31. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.56 and a beta of 1.90.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.60). Spectrum Brands had a return on equity of 3.24% and a net margin of 3.32%. The business had revenue of $874.60 million for the quarter, compared to the consensus estimate of $910.97 million. During the same period last year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 35.5% compared to the same quarter last year. As a group, equities analysts forecast that Spectrum Brands Holdings Inc will post 2.82 EPS for the current fiscal year.
A number of brokerages recently weighed in on SPB. Zacks Investment Research raised shares of Spectrum Brands from a “strong sell” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, April 11th. Deutsche Bank boosted their price target on shares of Spectrum Brands from $52.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Bank of America raised shares of Spectrum Brands from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $65.00 in a research report on Friday, January 18th. CIBC reissued a “buy” rating and set a $14.50 price target on shares of Spectrum Brands in a research report on Thursday, January 10th. Finally, ValuEngine cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.65.
Spectrum Brands Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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