Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Acquired by Quarry LP

Quarry LP grew its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 70.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 974 shares of the company’s stock after purchasing an additional 404 shares during the period. Quarry LP’s holdings in Spectrum Brands were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in Spectrum Brands during the third quarter valued at $31,000. International Assets Investment Management LLC boosted its position in Spectrum Brands by 9,420.0% during the third 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 during the last quarter. Farther Finance Advisors LLC grew its stake in Spectrum Brands by 92.2% in the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after purchasing an additional 261 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Spectrum Brands during the 2nd quarter worth $50,000.

Spectrum Brands Stock Performance

SPB opened at $94.88 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $91.54 and its two-hundred day moving average price is $89.68. The firm has a market capitalization of $2.66 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a 12-month low of $71.52 and a 12-month high of $96.74.

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 the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same quarter in the previous year, the business posted $1.36 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.08%.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.38.

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.