Ameriprise Financial Inc. Sells 30,572 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Ameriprise Financial Inc. decreased its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,949 shares of the company's stock after selling 30,572 shares during the quarter. Ameriprise Financial Inc. owned 0.42% of Spectrum Brands worth $9,797,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Anchor Capital Advisors LLC lifted its holdings in shares of Spectrum Brands by 1.2% in the fourth quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after purchasing an additional 184 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in Spectrum Brands by 5.3% during the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock worth $308,000 after acquiring an additional 185 shares during the last quarter. Legato Capital Management LLC boosted its holdings in Spectrum Brands by 2.2% during the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock worth $786,000 after acquiring an additional 198 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after acquiring an additional 375 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after purchasing an additional 390 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPB. Royal Bank of Canada reduced their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Monness Crespi & Hardt decreased their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Wells Fargo & Company reduced their price objective on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, UBS Group lifted their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.17.

Insiders Place Their Bets

In related news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the transaction, the chief executive officer now directly owns 718,427 shares of the company's stock, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company's stock.

Spectrum Brands Stock Performance

Shares of SPB stock traded down $0.47 during trading hours on Friday, hitting $58.05. 622,606 shares of the company were exchanged, compared to its average volume of 413,721. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.70 and a beta of 1.00. The firm has a fifty day simple moving average of $64.12 and a 200 day simple moving average of $77.18. Spectrum Brands Holdings, Inc. has a 52-week low of $56.50 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.24%. Spectrum Brands's dividend payout ratio is presently 89.95%.

Spectrum Brands 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.