MQS Management LLC Takes $367,000 Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

MQS Management LLC purchased a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,269 shares of the company’s stock, valued at approximately $367,000.

A number of other large investors also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Spectrum Brands by 1,615.8% in the first quarter. BNP Paribas Financial Markets now owns 55,831 shares of the company’s stock worth $4,970,000 after purchasing an additional 52,577 shares during the period. First Eagle Investment Management LLC increased its position in shares of Spectrum Brands by 154.7% during the first quarter. First Eagle Investment Management LLC now owns 126,100 shares of the company’s stock worth $11,224,000 after acquiring an additional 76,600 shares during the period. Redwood Investment Management LLC increased its position in shares of Spectrum Brands by 273.6% during the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock worth $6,070,000 after acquiring an additional 55,727 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Spectrum Brands by 50.5% during the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock valued at $20,644,000 after acquiring an additional 77,835 shares in the last quarter. Finally, Capstone Investment Advisors LLC boosted its holdings in shares of Spectrum Brands by 369.2% in the first quarter. Capstone Investment Advisors LLC now owns 13,298 shares of the company’s stock valued at $1,184,000 after purchasing an additional 10,464 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPB. Wells Fargo & Company raised their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target 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 upped their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group cut their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.88.

Spectrum Brands Trading Up 1.1 %

NYSE:SPB opened at $92.91 on Friday. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1.88, a PEG ratio of 0.33 and a beta of 1.22. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $88.55 and a 200 day moving average of $87.10.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The business had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $750.97 million. During the same quarter in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.81%. Spectrum Brands’s payout ratio is 3.40%.

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.