Vest Financial LLC Increases Holdings in Spectrum Brands Holdings Inc. $SPB

Vest Financial LLC increased its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 24.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,402 shares of the company’s stock after purchasing an additional 2,671 shares during the period. Vest Financial LLC owned 0.05% of Spectrum Brands worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after buying an additional 267 shares during the last quarter. Blue Trust Inc. boosted its position in Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after buying an additional 328 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Spectrum Brands in the 1st quarter valued at about $118,000. Quarry LP purchased a new position in Spectrum Brands in the 1st quarter valued at about $157,000. Finally, Amundi purchased a new position in Spectrum Brands in the 1st quarter valued at about $176,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an “outperform” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Spectrum Brands in a research report on Wednesday, October 8th. Canaccord Genuity Group decreased their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $51.59 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of 19.25 and a beta of 0.81. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $96.62. The firm’s 50-day simple moving average is $54.44 and its 200-day simple moving average is $57.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). The business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.Spectrum Brands’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. Equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.88 annualized dividend and a yield of 3.6%. Spectrum Brands’s dividend payout ratio is 70.15%.

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.