OLD National Bancorp IN Has $276,000 Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

OLD National Bancorp IN reduced its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 65.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,455 shares of the company’s stock after selling 6,604 shares during the quarter. OLD National Bancorp IN’s holdings in Spectrum Brands were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Verdence Capital Advisors LLC grew its stake in shares of Spectrum Brands by 18.1% during the fourth quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the company’s stock valued at $276,000 after purchasing an additional 530 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Spectrum Brands by 163.4% during the fourth quarter. Federated Hermes Inc. now owns 8,670 shares of the company’s stock valued at $692,000 after purchasing an additional 5,379 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $79,000. International Assets Investment Management LLC grew its stake in shares of Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Spectrum Brands by 97.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,089 shares of the company’s stock valued at $249,000 after purchasing an additional 1,526 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPB. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Royal Bank of Canada raised their price objective on shares of Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. StockNews.com raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Finally, Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.17.

Spectrum Brands Trading Down 1.0 %

Shares of NYSE SPB opened at $80.34 on Friday. The company’s fifty day moving average is $82.88 and its 200-day moving average is $79.00. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 1.74, a P/E/G ratio of 0.56 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a twelve month low of $63.64 and a twelve month high of $89.64. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.47. The company had revenue of $692.20 million for the quarter, compared to analysts’ expectations of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. Equities research analysts predict that Spectrum Brands Holdings, Inc. will post 3.79 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. Spectrum Brands’s dividend payout ratio is 3.65%.

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.