Ameriprise Financial Inc. Has $9.80 Million Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Ameriprise Financial Inc. reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 20.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,949 shares of the company's stock after selling 30,572 shares during the period. Ameriprise Financial Inc. owned about 0.42% of Spectrum Brands worth $9,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPB. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 1.7% in the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after acquiring an additional 22,484 shares during the last quarter. Callodine Capital Management LP increased its holdings in Spectrum Brands by 29.8% during the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after purchasing an additional 121,000 shares in the last quarter. FIL Ltd increased its holdings in Spectrum Brands by 8.7% during the 4th quarter. FIL Ltd now owns 461,568 shares of the company's stock valued at $38,998,000 after purchasing an additional 36,798 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Spectrum Brands by 76.4% in the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock worth $22,095,000 after purchasing an additional 113,238 shares in the last quarter.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura sold 5,180 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 718,427 shares in the company, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.60% of the company's stock.

Analyst Ratings Changes

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

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $63.64 on Tuesday. The company has a market cap of $1.59 billion, a PE ratio of 15.64, a PEG ratio of 1.70 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a 1 year low of $56.50 and a 1 year high of $96.62. The company's 50-day moving average is $65.01 and its two-hundred day moving average is $78.04.

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

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.95%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's payout ratio is 89.95%.

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.

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