Legato Capital Management LLC Grows Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Legato Capital Management LLC boosted its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,299 shares of the company’s stock after purchasing an additional 198 shares during the period. Legato Capital Management LLC’s holdings in Spectrum Brands were worth $786,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. increased its stake in Spectrum Brands by 15.9% in the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,641 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Spectrum Brands during the 4th quarter valued at $553,000. SG Americas Securities LLC grew its holdings in Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after buying an additional 11,166 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares during the last quarter. Finally, Manning & Napier Advisors LLC grew its holdings in Spectrum Brands by 30.4% during the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock valued at $12,674,000 after buying an additional 35,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada lowered their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. UBS Group lowered their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.43.

Spectrum Brands Price Performance

SPB stock opened at $78.51 on Friday. Spectrum Brands Holdings, Inc. has a 52-week low of $74.72 and a 52-week high of $96.74. The stock’s fifty day simple moving average is $85.23 and its 200-day simple moving average is $88.88. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same quarter in the previous year, the business earned $0.78 EPS. Equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.17 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s 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.