ING Groep NV Makes New Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

ING Groep NV purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,800 shares of the company’s stock, valued at approximately $3,596,000.

Several other large investors have also recently made changes to their positions in SPB. Victory Capital Management Inc. boosted its stake in shares of Spectrum Brands by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 21,055 shares of the company’s stock valued at $2,003,000 after purchasing an additional 1,273 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Spectrum Brands by 120.7% in the third quarter. Venturi Wealth Management LLC now owns 1,143 shares of the company’s stock worth $109,000 after purchasing an additional 625 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Spectrum Brands by 1.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock valued at $2,043,000 after buying an additional 345 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Spectrum Brands by 6.6% during the third quarter. Janney Montgomery Scott LLC now owns 8,316 shares of the company’s stock valued at $791,000 after buying an additional 516 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Spectrum Brands by 92.2% in the third 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 period.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPB shares. Wells Fargo & Company increased their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, UBS Group upped their price target on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $88.22 on Friday. The company has a market cap of $2.47 billion, a PE ratio of 21.62, a P/E/G ratio of 0.26 and a beta of 1.23. The business has a 50 day moving average of $91.49 and a 200 day 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. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, equities research analysts forecast 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.13%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s 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.