First Trust Advisors LP Grows Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

First Trust Advisors LP boosted its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 261.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,143 shares of the company's stock after buying an additional 118,060 shares during the period. First Trust Advisors LP owned approximately 0.60% of Spectrum Brands worth $13,784,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Pzena Investment Management LLC increased its stake in shares of Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock worth $112,654,000 after acquiring an additional 22,484 shares during the period. Callodine Capital Management LP raised its stake in shares of Spectrum Brands by 29.8% during the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock worth $44,568,000 after buying an additional 121,000 shares in the last quarter. FIL Ltd raised its stake in shares of Spectrum Brands by 8.7% during the 4th quarter. FIL Ltd now owns 461,568 shares of the company's stock worth $38,998,000 after buying an additional 36,798 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after buying an additional 7,198 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Spectrum Brands by 7.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 223,423 shares of the company's stock worth $18,877,000 after acquiring an additional 15,703 shares during the period.

Wall Street Analyst Weigh In

SPB has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group raised shares of 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 report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of 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, UBS Group reduced their price target on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.43.

Spectrum Brands Trading Up 2.5 %

NYSE SPB traded up $1.60 during trading hours on Friday, hitting $64.67. 98,659 shares of the company's stock were exchanged, compared to its average volume of 412,222. The business's 50 day moving average is $67.67 and its 200-day moving average is $80.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. Spectrum Brands Holdings, Inc. has a 12-month low of $57.66 and a 12-month high of $96.74. The firm has a market capitalization of $1.70 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company 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. This represents a $1.88 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's dividend payout ratio is currently 46.19%.

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.