Spectrum Brands Holdings, Inc. (NYSE:SPB) Stock Position Raised by Versor Investments LP

Versor Investments LP lifted its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 20.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,795 shares of the company’s stock after buying an additional 968 shares during the period. Versor Investments LP’s holdings in Spectrum Brands were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPB. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands during the 1st quarter valued at about $27,000. Central Pacific Bank Trust Division acquired a new position in Spectrum Brands during the 1st quarter valued at about $30,000. Versant Capital Management Inc boosted its stake in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Spectrum Brands during the 1st quarter valued at about $42,000. Finally, Innealta Capital LLC acquired a new position in Spectrum Brands during the 2nd quarter valued at about $59,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SPB shares. UBS Group boosted their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer upped their price target on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Wells Fargo & Company upped their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt upped their price target on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Spectrum Brands has an average rating of “Hold” and an average price target of $101.88.

Spectrum Brands Stock Down 1.2 %

SPB stock opened at $92.61 on Thursday. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $96.74. The firm has a market cap of $2.60 billion, a PE ratio of 1.87, a P/E/G ratio of 0.34 and a beta of 1.19. The firm has a 50 day simple moving average of $86.84 and a 200 day simple moving average of $86.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The firm had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be paid a $0.42 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.68 annualized dividend and a yield of 1.81%. Spectrum Brands’s dividend payout ratio is presently 3.40%.

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.