Quarry LP Increases Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Quarry LP raised its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 375.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 570 shares of the company’s stock after acquiring an additional 450 shares during the quarter. Quarry LP’s holdings in Spectrum Brands were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Spectrum Brands by 4.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock valued at $172,511,000 after purchasing an additional 79,322 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Spectrum Brands by 21.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after buying an additional 234,784 shares in the last quarter. LSV Asset Management grew its stake in shares of Spectrum Brands by 68.9% during the 1st quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after acquiring an additional 304,217 shares during the period. Armistice Capital LLC increased its holdings in Spectrum Brands by 129.4% in 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 in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Spectrum Brands by 50.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after acquiring an additional 77,835 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPB. UBS Group upped their price target 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 increased their price target on 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 boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. 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 research note on Monday, July 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

Spectrum Brands Stock Performance

NYSE SPB opened at $92.51 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 1.87, a P/E/G ratio of 0.26 and a beta of 1.22. The business has a 50 day simple moving average of $90.53 and a two-hundred day simple moving average of $87.86. 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 Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its 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). The firm had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts predict that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were issued a $0.42 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. Spectrum Brands’s dividend payout ratio (DPR) 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.