First Trust Advisors LP Increases Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its stake in Spectrum Brands by 71.4% in the 3rd quarter. Barclays PLC now owns 35,407 shares of the company's stock valued at $3,369,000 after purchasing an additional 14,746 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Spectrum Brands by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 14,792 shares of the company's stock valued at $1,356,000 after acquiring an additional 381 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Spectrum Brands during the 4th quarter worth $553,000. City Center Advisors LLC acquired a new position in Spectrum Brands in the 4th quarter worth about $306,000. Finally, West Oak Capital LLC raised its position in Spectrum Brands by 1.4% in the fourth quarter. West Oak Capital LLC now owns 27,359 shares of the company's stock valued at $2,312,000 after purchasing an additional 375 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPB. Wells Fargo & Company lowered 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. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Royal Bank of Canada dropped their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, UBS Group cut their price target on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.43.

Spectrum Brands Stock Down 0.2 %

Spectrum Brands stock traded down $0.12 during midday trading on Tuesday, reaching $62.62. The stock had a trading volume of 504,823 shares, compared to its average volume of 411,681. 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 12 month low of $57.66 and a 12 month high of $96.74. The company has a fifty day moving average price of $68.64 and a two-hundred day moving average price of $80.82. The company has a market capitalization of $1.65 billion, a P/E ratio of 15.39, a PEG 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 (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.78 earnings per share. As a group, equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 3.00%. Spectrum Brands's dividend payout ratio (DPR) is currently 46.19%.

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.