Northwestern Mutual Wealth Management Co. lifted its stake in Spectrum Brands Holdings Inc. (NYSE:SPB – Free Report) by 374,119.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,196,666 shares of the company’s stock after acquiring an additional 2,196,079 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 9.44% of Spectrum Brands worth $129,779,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its holdings in shares of Spectrum Brands by 66.8% in the third quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after buying an additional 985,034 shares during the last quarter. Callodine Capital Management LP boosted its holdings in shares of Spectrum Brands by 26.7% in the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after buying an additional 360,898 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Spectrum Brands in the second quarter worth approximately $15,409,000. American Century Companies Inc. boosted its holdings in shares of Spectrum Brands by 14.5% in the third quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after buying an additional 260,085 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after buying an additional 224,481 shares during the last quarter.
Spectrum Brands Price Performance
Shares of NYSE:SPB opened at $77.08 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.38. Spectrum Brands Holdings Inc. has a 1-year low of $49.99 and a 1-year high of $86.96. The company has a market capitalization of $1.79 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.41 and a beta of 0.67. The firm’s 50 day simple moving average is $78.06 and its two-hundred day simple moving average is $68.50.
Spectrum Brands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 26th. Spectrum Brands’s payout ratio is 35.88%.
Analyst Upgrades and Downgrades
SPB has been the topic of a number of research reports. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Oppenheimer lifted their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada set a $85.00 price target on shares of Spectrum Brands in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.20.
Check Out Our Latest Analysis on Spectrum Brands
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.
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