Allspring Global Investments Holdings LLC Reduces Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Allspring Global Investments Holdings LLC decreased its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,000,346 shares of the company's stock after selling 206,715 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.67% of Spectrum Brands worth $159,568,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Spectrum Brands by 31.7% during the first quarter. Captrust Financial Advisors now owns 503 shares of the company's stock worth $45,000 after purchasing an additional 121 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Spectrum Brands by 1.4% during the third quarter. Arizona State Retirement System now owns 11,675 shares of the company's stock worth $915,000 after buying an additional 158 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Spectrum Brands by 53.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company's stock worth $36,000 after buying an additional 160 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Spectrum Brands by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,156 shares of the company's stock worth $247,000 after buying an additional 166 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Spectrum Brands by 0.8% during the third quarter. GSA Capital Partners LLP now owns 27,453 shares of the company's stock worth $2,151,000 after buying an additional 226 shares during the last quarter.

Spectrum Brands Price Performance

Shares of SPB stock traded down $0.70 during midday trading on Monday, reaching $83.71. 241,293 shares of the company traded hands, compared to its average volume of 390,354. The firm's 50 day simple moving average is $83.44 and its two-hundred day simple moving average is $78.76. Spectrum Brands Holdings, Inc. has a 1-year low of $63.64 and a 1-year high of $89.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75. The firm has a market cap of $2.53 billion, a PE ratio of 1.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. During the same period last year, the firm earned ($0.32) EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.01%. Spectrum Brands's dividend payout ratio (DPR) is 3.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPB shares. StockNews.com raised Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, December 30th. Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $87.00 to $98.00 and gave the company a "buy" rating in a report on Friday, February 9th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on Spectrum Brands from $89.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an "equal weight" rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Spectrum Brands presently has a consensus rating of "Hold" and an average price target of $89.17.

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.

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