Blueshift Asset Management LLC Takes $252,000 Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Blueshift Asset Management LLC purchased a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,652 shares of the company’s stock, valued at approximately $252,000.

A number of other large investors also recently made changes to their positions in the business. TCW Group Inc. boosted its stake in shares of Spectrum Brands by 25.2% during the 2nd quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock valued at $10,901,000 after buying an additional 25,551 shares during the period. Acadian Asset Management LLC acquired a new stake in Spectrum Brands during the second quarter valued at $3,119,000. Bank of Montreal Can grew its stake in Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock valued at $10,862,000 after purchasing an additional 113,337 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Spectrum Brands in the 2nd quarter worth about $630,000. Finally, International Assets Investment Management LLC raised its stake in shares of Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter.

Spectrum Brands Stock Performance

SPB opened at $91.73 on Friday. The stock has a market cap of $2.57 billion, a PE ratio of 22.48, a P/E/G ratio of 1.60 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 1 year low of $66.07 and a 1 year high of $96.74. The stock’s 50 day simple moving average is $91.39 and its 200-day simple moving average is $89.71. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26.

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

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio is currently 46.08%.

Analyst Ratings Changes

A number of brokerages have recently commented on SPB. Deutsche Bank Aktiengesellschaft raised their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. UBS Group raised their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.38.

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.