4,881 Shares in Spectrum Brands Holdings Inc (SPB) Acquired by Trexquant Investment LP
Trexquant Investment LP purchased a new stake in shares of Spectrum Brands Holdings Inc (NYSE:SPB) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,881 shares of the company’s stock, valued at approximately $365,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Spectrum Brands by 26.3% in the third quarter. FMR LLC now owns 8,011,307 shares of the company’s stock valued at $598,605,000 after purchasing an additional 1,670,550 shares during the period. Wells Fargo & Company MN raised its position in Spectrum Brands by 18.5% in the third quarter. Wells Fargo & Company MN now owns 2,586,483 shares of the company’s stock valued at $193,263,000 after purchasing an additional 403,810 shares during the period. Schroder Investment Management Group raised its position in Spectrum Brands by 171.2% in the second quarter. Schroder Investment Management Group now owns 2,053,842 shares of the company’s stock valued at $106,533,000 after purchasing an additional 1,296,429 shares during the period. BlackRock Inc. raised its position in Spectrum Brands by 95.2% in the third quarter. BlackRock Inc. now owns 1,773,507 shares of the company’s stock valued at $132,517,000 after purchasing an additional 865,154 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in Spectrum Brands by 9.6% in the third quarter. Wedge Capital Management L L P NC now owns 1,445,497 shares of the company’s stock valued at $108,008,000 after purchasing an additional 126,714 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Raymond James reissued a “buy” rating and issued a $15.00 target price on shares of Spectrum Brands in a research report on Monday, December 3rd. Royal Bank of Canada cut their target price on Spectrum Brands to $75.00 and set an “outperform” rating on the stock in a research report on Monday, November 26th. Zacks Investment Research raised Spectrum Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 22nd. BMO Capital Markets cut their target price on Spectrum Brands from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co cut their target price on Spectrum Brands from $70.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 20th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Spectrum Brands currently has an average rating of “Buy” and an average target price of $96.58.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Wednesday, November 21st. The company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.29). The business had revenue of $787.80 million during the quarter, compared to analyst estimates of $803.72 million. Spectrum Brands had a negative return on equity of 2.43% and a net margin of 23.26%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 EPS. On average, sell-side analysts anticipate that Spectrum Brands Holdings Inc will post 3.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.55%. Spectrum Brands’s dividend payout ratio (DPR) is 47.46%.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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