Blueshift Asset Management LLC Purchases New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Blueshift Asset Management LLC acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,652 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds also recently modified their holdings of SPB. Armistice Capital LLC grew its position in Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after acquiring an additional 247,809 shares during the last quarter. Pzena Investment Management LLC grew its holdings 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 purchasing an additional 123,733 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock valued at $10,862,000 after buying an additional 113,337 shares in the last quarter. Algert Global LLC acquired a new position in Spectrum Brands during the 2nd quarter worth about $9,670,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after buying an additional 112,530 shares in the last quarter.

Spectrum Brands Price Performance

SPB opened at $91.73 on Friday. The company has a fifty day simple moving average of $91.39 and a 200 day simple moving average of $89.71. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.57 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.60 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 12 month low of $66.07 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The business had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same period in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio is 46.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPB. UBS Group upped 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. Canaccord Genuity Group upped their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted 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, Wells Fargo & Company upped their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.38.

Spectrum Brands Company 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.