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

Allspring Global Investments Holdings LLC trimmed its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,013,603 shares of the company’s stock after selling 106,499 shares during the quarter. Allspring Global Investments Holdings LLC owned about 7.18% of Spectrum Brands worth $168,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Citigroup Inc. raised its position in Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock worth $3,905,000 after buying an additional 5,641 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Spectrum Brands during the fourth quarter worth about $553,000. SG Americas Securities LLC lifted its position in Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after purchasing an additional 11,166 shares during the period. International Assets Investment Management LLC boosted its holdings in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its position in Spectrum Brands by 30.4% during the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock worth $12,674,000 after purchasing an additional 35,000 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on SPB. Royal Bank of Canada reduced their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Finally, UBS Group decreased their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two equities 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, Spectrum Brands presently has an average rating of “Moderate Buy” and an average price target of $103.43.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $76.54 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $85.96 and its 200 day moving average price is $89.03. Spectrum Brands Holdings, Inc. has a 52 week low of $74.72 and a 52 week high of $96.74. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.02 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 6.34%. During the same period last year, the firm earned $0.78 EPS. As a group, research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.17 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. Spectrum Brands’s dividend payout ratio (DPR) is 46.19%.

About Spectrum Brands

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.