112,536 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Bought by Algert Global LLC

Algert Global LLC bought a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 112,536 shares of the company’s stock, valued at approximately $9,670,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPB. DekaBank Deutsche Girozentrale lifted its holdings in shares of Spectrum Brands by 24.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock valued at $104,000 after acquiring an additional 240 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Spectrum Brands in the first quarter valued at about $27,000. Central Pacific Bank Trust Division bought a new position in shares of Spectrum Brands in the first quarter valued at about $30,000. Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of Spectrum Brands by 3.0% in the second quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock valued at $1,335,000 after buying an additional 448 shares during the last quarter.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $93.79 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The stock has a market cap of $2.63 billion, a PE ratio of 1.90, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. The stock has a 50-day moving average of $89.64 and a 200-day moving average of $87.54. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.10 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 company had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.79%. Spectrum Brands’s payout ratio is 3.40%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPB shares. Deutsche Bank Aktiengesellschaft lifted their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a report on Friday, June 7th. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.88.

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.