Wellington Management Group LLP Buys 36,063 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Wellington Management Group LLP increased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 513,025 shares of the company's stock after purchasing an additional 36,063 shares during the quarter. Wellington Management Group LLP owned approximately 1.83% of Spectrum Brands worth $48,809,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPB. Armistice Capital LLC grew its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company's stock valued at $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Harvey Partners LLC acquired a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $19,837,000. Verition Fund Management LLC grew its stake in shares of Spectrum Brands by 295.5% in the 3rd quarter. Verition Fund Management LLC now owns 182,761 shares of the company's stock valued at $17,388,000 after buying an additional 136,556 shares in the last quarter. Pzena Investment Management LLC increased its holdings 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 buying an additional 123,733 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings 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 buying an additional 113,337 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $102.38.

Spectrum Brands Stock Performance

Spectrum Brands stock traded up $0.14 during trading hours on Thursday, reaching $91.23. 213,657 shares of the company were exchanged, compared to its average volume of 384,829. Spectrum Brands Holdings, Inc. has a 12 month low of $75.50 and a 12 month high of $96.74. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $91.49 and a 200 day moving average of $89.69. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.60 and a beta of 1.19.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. Spectrum Brands's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. As a group, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands's previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.06%. Spectrum Brands's payout ratio is presently 46.08%.

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.