M&T Bank Corp Invests $221,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

M&T Bank Corp purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,318 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its position in shares of Spectrum Brands by 94.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,734 shares of the company’s stock worth $149,000 after acquiring an additional 844 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Spectrum Brands by 4.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock worth $172,511,000 after purchasing an additional 79,322 shares during the last quarter. Legato Capital Management LLC boosted its stake in Spectrum Brands by 51.5% in the second quarter. Legato Capital Management LLC now owns 11,491 shares of the company’s stock valued at $987,000 after buying an additional 3,907 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Spectrum Brands by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,103 shares of the company’s stock valued at $610,000 after purchasing an additional 676 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Spectrum Brands in the second quarter valued at approximately $59,000.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on Spectrum Brands from $91.00 to $94.00 and gave the company 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, the company currently has an average rating of “Hold” and an average price target of $102.38.

Spectrum Brands Stock Down 0.8 %

Shares of NYSE:SPB opened at $85.56 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 20.97, a PEG ratio of 1.58 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a 52-week low of $75.50 and a 52-week high of $96.74. The business’s 50 day simple moving average is $91.25 and its two-hundred day simple moving average is $89.65. 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 released its quarterly earnings data 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 business had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a $0.47 dividend. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.88 annualized dividend and a yield of 2.20%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

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.