Allspring Global Investments Holdings LLC Buys 112,530 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Allspring Global Investments Holdings LLC boosted its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,120,102 shares of the company’s stock after purchasing an additional 112,530 shares during the period. Allspring Global Investments Holdings LLC owned about 7.56% of Spectrum Brands worth $201,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPB. Fidelis Capital Partners LLC bought a new position in Spectrum Brands in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division bought a new position in shares of Spectrum Brands during the first quarter valued at $30,000. Versant Capital Management Inc raised its stake in shares of Spectrum Brands by 1,923.8% during the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after acquiring an additional 404 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Spectrum Brands during the first quarter valued at $42,000. Finally, Quarry LP raised its stake in shares of Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares during the last quarter.

Spectrum Brands Trading Down 0.2 %

Shares of SPB traded down $0.19 during trading hours on Friday, hitting $91.48. 148,098 shares of the stock were exchanged, compared to its average volume of 274,706. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The firm has a market capitalization of $2.56 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 0.25 and a beta of 1.22. The business has a 50-day moving average of $91.80 and a 200-day moving average of $88.14. Spectrum Brands Holdings, Inc. has a fifty-two week low of $65.27 and a fifty-two week high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The company had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, research analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, August 27th. Spectrum Brands’s payout ratio is 47.46%.

Analyst Upgrades and Downgrades

SPB has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group dropped their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Wells Fargo & Company raised their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, UBS Group raised their price target on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.88.

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.