Versor Investments LP Buys New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Versor Investments LP purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,914 shares of the company's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Pzena Investment Management LLC grew its position in shares of Spectrum Brands by 10.4% during 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 in the last quarter. State Street Corp raised its holdings in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company's stock valued at $56,154,000 after purchasing an additional 7,783 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Spectrum Brands by 7.6% in the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company's stock valued at $48,809,000 after purchasing an additional 36,063 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Spectrum Brands by 7.5% during the 3rd quarter. Systematic Financial Management LP now owns 346,005 shares of the company's stock worth $32,919,000 after purchasing an additional 24,083 shares during the last quarter. Finally, Harvey Partners LLC acquired a new position in shares of Spectrum Brands during the third quarter worth $19,837,000.

Spectrum Brands Price Performance

Spectrum Brands stock traded up $0.75 during mid-day trading on Friday, reaching $75.18. The company had a trading volume of 278,169 shares, compared to its average volume of 379,571. The stock's 50-day simple moving average is $81.52 and its 200-day simple moving average is $87.87. The company has a market capitalization of $1.98 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. Spectrum Brands Holdings, Inc. has a 1 year low of $70.58 and a 1 year high of $96.74.

Remove Ads

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. Spectrum Brands's dividend payout ratio is presently 46.19%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada cut their price target on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and raised their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, UBS Group dropped their target price on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $103.43.

About Spectrum Brands

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.