Algert Global LLC Buys 38,514 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Algert Global LLC increased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 34.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,050 shares of the company’s stock after acquiring an additional 38,514 shares during the quarter. Spectrum Brands makes up about 0.4% of Algert Global LLC’s portfolio, making the stock its 24th largest position. Algert Global LLC’s holdings in Spectrum Brands were worth $14,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Waldron Private Wealth LLC bought a new stake in Spectrum Brands in the 3rd quarter valued at about $27,000. Versant Capital Management Inc raised its position in shares of Spectrum Brands by 1,923.8% during the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Spectrum Brands in the 1st quarter worth $42,000. International Assets Investment Management LLC increased its stake in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Quarry LP raised its holdings in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after buying an additional 450 shares during the last quarter.

Spectrum Brands Stock Up 0.2 %

Shares of NYSE:SPB opened at $90.45 on Friday. Spectrum Brands Holdings, Inc. has a 1 year low of $65.50 and a 1 year high of $96.74. The company has a market capitalization of $2.54 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The business has a fifty day moving average price of $91.45 and a two-hundred day moving average price of $89.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. Spectrum Brands’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. 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 payout ratio is 41.18%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPB shares. 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 report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company raised their price objective 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.