Dean Investment Associates LLC Sells 7,914 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Dean Investment Associates LLC cut its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 25.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,230 shares of the company’s stock after selling 7,914 shares during the period. Dean Investment Associates LLC owned 0.08% of Spectrum Brands worth $2,210,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SPB. Armistice Capital LLC raised its position 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 acquiring an additional 247,809 shares during the period. Harvey Partners LLC bought a new position in Spectrum Brands in the third quarter worth approximately $19,837,000. Verition Fund Management LLC raised its position in Spectrum Brands by 295.5% in the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock worth $17,388,000 after acquiring an additional 136,556 shares during the period. Pzena Investment Management LLC raised its position in Spectrum Brands by 10.4% in 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. Finally, Bank of Montreal Can raised its position in Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares during the period.

Spectrum Brands Stock Performance

SPB opened at $94.88 on Monday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.65 and a beta of 1.19. The company has a fifty day moving average of $91.54 and a 200 day moving average of $89.66. Spectrum Brands Holdings, Inc. has a fifty-two week low of $71.52 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30.

Spectrum Brands (NYSE:SPB) last posted its 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 company 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 business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.98%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $102.38.

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.