SummerHaven Investment Management LLC Purchases New Position in Spectrum Brands Holdings Inc. $SPB

SummerHaven Investment Management LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,755 shares of the company’s stock, valued at approximately $775,000. SummerHaven Investment Management LLC owned about 0.06% of Spectrum Brands at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPB. GAMMA Investing LLC boosted its holdings in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares in the last quarter. Headlands Technologies LLC bought a new position in Spectrum Brands in the 2nd quarter valued at $41,000. SJS Investment Consulting Inc. acquired a new position in Spectrum Brands in the third quarter worth $47,000. State of Alaska Department of Revenue bought a new stake in shares of Spectrum Brands during the third quarter worth $49,000. Finally, Blue Trust Inc. increased its stake in shares of Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after buying an additional 328 shares in the last quarter.

Spectrum Brands Stock Down 4.1%

Shares of NYSE SPB opened at $62.59 on Thursday. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $87.23. The firm’s 50-day moving average is $60.72 and its 200-day moving average is $56.87. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.46 billion, a PE ratio of 15.81 and a beta of 0.69.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $0.77 by $1.84. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. During the same period in the prior year, the business posted $0.97 earnings per share. Spectrum Brands’s revenue was down 5.2% compared to the same quarter last year. Equities analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.47%.

Analysts Set New Price Targets

SPB has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Canaccord Genuity Group raised their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a report on Monday, November 17th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.