Tokio Marine Asset Management Co. Ltd. Cuts Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Tokio Marine Asset Management Co. Ltd. reduced its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,800 shares of the company’s stock after selling 400 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Spectrum Brands were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPB. Waldron Private Wealth LLC purchased a new stake in shares of Spectrum Brands during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc boosted its position in Spectrum Brands by 1,923.8% during the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Spectrum Brands in the first quarter valued at $42,000. International Assets Investment Management LLC increased its position in shares of Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after buying an additional 261 shares during the last quarter.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $88.18 on Friday. Spectrum Brands Holdings, Inc. has a 1 year low of $65.27 and a 1 year high of $96.74. The firm has a 50 day moving average price of $91.57 and a 200 day moving average price of $89.38. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.26 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same period last year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a $0.47 dividend. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.88 annualized dividend and a yield of 2.13%. Spectrum Brands’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPB. UBS Group increased their price objective 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. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.