Tributary Capital Management LLC raised its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 16,300 shares of the company’s stock after buying an additional 1,800 shares during the period. Tributary Capital Management LLC’s holdings in Spectrum Brands Holdings were worth $2,038,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Spectrum Brands Holdings during the second quarter worth about $100,000. Invictus RG acquired a new position in shares of Spectrum Brands Holdings during the first quarter worth about $156,000. Envestnet Asset Management Inc. raised its position in shares of Spectrum Brands Holdings by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,463 shares of the company’s stock worth $179,000 after buying an additional 21 shares during the period. TD Asset Management Inc. acquired a new position in shares of Spectrum Brands Holdings during the first quarter worth about $211,000. Finally, Fulton Bank N.A. acquired a new position in shares of Spectrum Brands Holdings during the first quarter worth about $214,000. Institutional investors and hedge funds own 48.00% of the company’s stock.
Spectrum Brands Holdings, Inc. (SPB) opened at 117.95 on Friday. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.28 and a beta of 0.69. Spectrum Brands Holdings, Inc. has a 52-week low of $108.30 and a 52-week high of $146.09. The company has a 50-day moving average of $126.21 and a 200-day moving average of $132.45.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.94 by $0.23. Spectrum Brands Holdings had a return on equity of 17.78% and a net margin of 6.31%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business posted $1.73 EPS. Spectrum Brands Holdings’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Spectrum Brands Holdings, Inc. will post $5.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be given a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.42%. Spectrum Brands Holdings’s dividend payout ratio is currently 31.70%.
SPB has been the topic of a number of research reports. Wells Fargo & Company restated a “buy” rating on shares of Spectrum Brands Holdings in a research report on Thursday. Jefferies Group LLC restated a “buy” rating and set a $150.00 target price (down from $165.00) on shares of Spectrum Brands Holdings in a research report on Thursday, July 6th. Royal Bank Of Canada restated a “buy” rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a research report on Thursday, May 25th. Deutsche Bank AG lowered their target price on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets set a $155.00 target price on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Spectrum Brands Holdings currently has an average rating of “Buy” and an average target price of $149.50.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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