47,000 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Purchased by Bank of Nova Scotia

Bank of Nova Scotia bought a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 47,000 shares of the company's stock, valued at approximately $3,971,000. Bank of Nova Scotia owned 0.17% of Spectrum Brands at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Spectrum Brands during the 4th quarter worth approximately $50,000. Blue Trust Inc. raised its position in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after buying an additional 375 shares during the period. KBC Group NV lifted its stake in Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after acquiring an additional 390 shares in the last quarter. M&T Bank Corp acquired a new stake in Spectrum Brands during the 3rd quarter worth about $221,000. Finally, Summit Trail Advisors LLC purchased a new position in Spectrum Brands during the 4th quarter valued at about $237,000.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock traded up $0.56 on Friday, reaching $59.71. The stock had a trading volume of 398,590 shares, compared to its average volume of 404,384. Spectrum Brands Holdings, Inc. has a fifty-two week low of $57.93 and a fifty-two week high of $96.74. The business's 50-day moving average price is $70.98 and its two-hundred day moving average price is $82.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The stock has a market cap of $1.57 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the company earned $0.78 EPS. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. Spectrum Brands's payout ratio is 46.19%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPB. Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Wednesday. UBS Group reduced their price objective on Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada dropped their target price on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and lifted their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.43.

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.