Invesco Ltd. Grows Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Invesco Ltd. increased its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,988 shares of the company's stock after acquiring an additional 9,835 shares during the quarter. Invesco Ltd. owned about 0.30% of Spectrum Brands worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC increased its position 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 valued at $112,654,000 after acquiring an additional 22,484 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after purchasing an additional 7,198 shares in the last quarter. Sei Investments Co. raised its stake in shares of Spectrum Brands by 2.0% in the fourth quarter. Sei Investments Co. now owns 211,412 shares of the company's stock worth $17,862,000 after purchasing an additional 4,050 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Spectrum Brands during the fourth quarter valued at $16,606,000. Finally, First Eagle Investment Management LLC boosted its position in shares of Spectrum Brands by 9.0% during the fourth quarter. First Eagle Investment Management LLC now owns 186,272 shares of the company's stock valued at $15,738,000 after buying an additional 15,400 shares during the last quarter.

Spectrum Brands Price Performance

Shares of SPB traded up $0.42 during midday trading on Wednesday, hitting $63.08. 492,647 shares of the company traded hands, compared to its average volume of 412,604. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.70 and a beta of 1.03. The firm has a 50 day moving average of $67.98 and a 200-day moving average of $80.57. 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 52 week low of $57.66 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm earned $0.78 earnings per share. On average, analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.98%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's dividend payout ratio is presently 46.19%.

Analysts Set New Price Targets

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