Paloma Partners Management Co Invests $434,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Paloma Partners Management Co bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 4,880 shares of the company’s stock, valued at approximately $434,000.

Several other institutional investors also recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Spectrum Brands in the 1st quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Spectrum Brands in the 1st quarter valued at approximately $30,000. International Assets Investment Management LLC lifted its stake in Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 377 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Spectrum Brands in the 1st quarter valued at approximately $42,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Oppenheimer boosted their target price on Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and issued a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Monness Crespi & Hardt upped their price objective on Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company dropped their price objective on Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Spectrum Brands from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.43.

Spectrum Brands Stock Performance

Shares of SPB stock traded up $0.17 during trading on Monday, reaching $86.17. 554,653 shares of the company’s stock were exchanged, compared to its average volume of 420,267. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.42 billion, a PE ratio of 1.75, a PEG ratio of 0.38 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The firm’s fifty day moving average price is $87.49 and its 200-day moving average price is $84.68.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same period in the prior year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, May 24th. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

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.