37,800 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Bought by ING Groep NV

ING Groep NV purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,800 shares of the company’s stock, valued at approximately $3,596,000. ING Groep NV owned approximately 0.13% of Spectrum Brands at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SPB. Gamco Investors INC. ET AL increased its position in shares of Spectrum Brands by 50.5% during the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after acquiring an additional 77,835 shares in the last quarter. TCW Group Inc. raised its stake in shares of Spectrum Brands by 25.2% in the second quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock worth $10,901,000 after purchasing an additional 25,551 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Spectrum Brands by 217.7% in the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock valued at $14,740,000 after purchasing an additional 113,470 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Spectrum Brands during the first quarter valued at approximately $792,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Spectrum Brands during the second quarter valued at approximately $3,119,000.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $88.22 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.26 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $91.49 and a 200 day simple moving average of $89.42. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. On average, research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be given a $0.47 dividend. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.13%. Spectrum Brands’s payout ratio is 46.08%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company upped their price objective on 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 lifted their target price on Spectrum Brands from $111.00 to $120.00 and gave the stock 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 stock has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Company 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.