Algert Global LLC Invests $9.67 Million in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Algert Global LLC purchased a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 112,536 shares of the company’s stock, valued at approximately $9,670,000. Algert Global LLC owned approximately 0.40% of Spectrum Brands at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its position in shares of Spectrum Brands by 24.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after purchasing an additional 240 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands in the first quarter worth approximately $27,000. Central Pacific Bank Trust Division acquired a new position in Spectrum Brands in the first quarter worth approximately $30,000. Versant Capital Management Inc increased its holdings in Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after buying an additional 404 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its holdings in Spectrum Brands by 3.0% in the second quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock worth $1,335,000 after buying an additional 448 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPB. Deutsche Bank Aktiengesellschaft increased their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. UBS Group increased 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. Wells Fargo & Company increased their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Finally, Canaccord Genuity Group lowered their price target on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Spectrum Brands currently has an average rating of “Hold” and an average target price of $101.88.

Spectrum Brands Trading Up 0.9 %

Shares of Spectrum Brands stock opened at $93.79 on Friday. The company’s fifty day simple moving average is $89.64 and its 200-day simple moving average is $87.54. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 1.90, a PEG ratio of 0.33 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. 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 announced its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.25). The company had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Announces Dividend

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

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.