Teachers Retirement System of The State of Kentucky Buys Shares of 15,412 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,412 shares of the company’s stock, valued at approximately $1,474,000.

A number of other institutional investors have also added to or reduced their stakes in SPB. Steward Partners Investment Advisory LLC lifted its position in Spectrum Brands by 246.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 482 shares of the company’s stock valued at $41,000 after purchasing an additional 343 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $45,000. Moors & Cabot Inc. acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at approximately $52,000. Metropolitan Life Insurance Co NY acquired a new stake in Spectrum Brands during the 2nd quarter worth approximately $74,000. Finally, Amundi bought a new position in shares of Spectrum Brands during the 2nd quarter worth approximately $93,000. Institutional investors own 97.06% of the company’s stock.

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $116.00 target price (up from $110.00) on shares of Spectrum Brands in a research note on Friday, November 12th. Zacks Investment Research upgraded Spectrum Brands from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Wednesday, November 17th. Monness Crespi & Hardt boosted their price target on Spectrum Brands from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, November 15th. Oppenheimer boosted their price target on Spectrum Brands from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 15th. Finally, Royal Bank of Canada upped their target price on Spectrum Brands from $100.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of “Buy” and a consensus price target of $117.71.

SPB opened at $100.01 on Friday. The stock has a market cap of $4.26 billion, a PE ratio of 22.68 and a beta of 1.62. The company has a quick ratio of 2.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.69. The business has a 50 day moving average of $100.47 and a 200-day moving average of $92.19. Spectrum Brands Holdings, Inc. has a 52 week low of $74.26 and a 52 week high of $107.22.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 12th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.42). Spectrum Brands had a return on equity of 16.93% and a net margin of 4.50%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 3.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 14th. Stockholders of record on Monday, November 22nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, November 19th. Spectrum Brands’s dividend payout ratio (DPR) is 38.10%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.

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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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