Harvey Partners LLC Makes New Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Harvey Partners LLC purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 208,500 shares of the company's stock, valued at approximately $19,837,000. Spectrum Brands comprises approximately 2.3% of Harvey Partners LLC's portfolio, making the stock its 19th biggest position. Harvey Partners LLC owned 0.74% of Spectrum Brands as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in Spectrum Brands by 24.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company's stock worth $104,000 after buying an additional 240 shares during the period. Farther Finance Advisors LLC increased its holdings in 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 last quarter. Waldron Private Wealth LLC bought a new stake in Spectrum Brands during the third quarter worth approximately $27,000. Brooklyn Investment Group bought a new stake in Spectrum Brands during the third quarter worth approximately $31,000. Finally, 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 worth $2,043,000 after purchasing an additional 345 shares during the period.

Spectrum Brands Price Performance

Shares of NYSE:SPB traded up $0.99 during midday trading on Tuesday, reaching $94.02. The company's stock had a trading volume of 500,207 shares, compared to its average volume of 385,613. Spectrum Brands Holdings, Inc. has a fifty-two week low of $70.31 and a fifty-two week high of $96.74. The company has a market capitalization of $2.64 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The business's fifty day simple moving average is $91.36 and its 200-day simple moving average is $89.61.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. Spectrum Brands's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 EPS 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. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.00%. This is a boost from Spectrum Brands's previous quarterly dividend of $0.42. Spectrum Brands's dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

Several research firms have recently weighed in on SPB. Wells Fargo & Company increased their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Canaccord Genuity Group upped their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Finally, UBS Group upped their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of "Hold" and an average target price of $102.38.

Spectrum Brands 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.