Verition Fund Management LLC raised its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 295.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,761 shares of the company's stock after acquiring an additional 136,556 shares during the quarter. Verition Fund Management LLC owned 0.65% of Spectrum Brands worth $17,388,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in SPB. Waldron Private Wealth LLC acquired a new position in shares of Spectrum Brands in the 3rd quarter worth $27,000. Brooklyn Investment Group acquired a new position in shares of Spectrum Brands in the 3rd quarter valued at $31,000. Versant Capital Management Inc increased its stake in Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company's stock worth $37,000 after purchasing an additional 404 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company's stock worth $45,000 after buying an additional 471 shares during the period. Finally, Quarry LP lifted its stake in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company's stock valued at $49,000 after buying an additional 450 shares in the last quarter.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on SPB shares. UBS Group lifted their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Wells Fargo & Company lifted their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group lifted their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.38.
Check Out Our Latest Stock Analysis on SPB
Spectrum Brands Stock Up 0.2 %
Shares of NYSE SPB traded up $0.22 during mid-day trading on Friday, reaching $91.95. The company had a trading volume of 155,530 shares, compared to its average volume of 369,062. The stock has a market capitalization of $2.58 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a twelve month low of $67.34 and a twelve month 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. The stock's 50 day moving average is $91.36 and its 200-day moving average is $89.65.
Spectrum Brands (NYSE:SPB - Get Free Report) last issued 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 firm had revenue of $773.70 million during 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. As a group, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current fiscal year.
Spectrum Brands Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This is a boost from Spectrum Brands's previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.04%. Spectrum Brands's payout ratio is 46.08%.
About Spectrum Brands
(
Free Report)
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.
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