National Bank of Canada FI Purchases 44,003 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

National Bank of Canada FI boosted its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 10,046.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,441 shares of the company’s stock after purchasing an additional 44,003 shares during the period. National Bank of Canada FI owned about 0.16% of Spectrum Brands worth $4,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Spectrum Brands by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after buying an additional 112,530 shares during the period. Pzena Investment Management LLC increased its position in shares of Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock worth $124,715,000 after acquiring an additional 123,733 shares during the period. State Street Corp raised its stake in shares of Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after acquiring an additional 7,783 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Spectrum Brands by 7.6% in the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after purchasing an additional 36,063 shares during the period. Finally, Armistice Capital LLC grew its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after purchasing an additional 247,809 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, November 18th. 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.com, the stock has a consensus rating of “Hold” and an average price target of $102.38.

Spectrum Brands Stock Performance

SPB opened at $91.28 on Friday. The firm’s 50-day moving average price is $91.49 and its 200-day moving average price is $89.70. The company has a market cap of $2.56 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 52-week low of $75.50 and a 52-week high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.47 per share. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio is presently 46.08%.

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.