30,000 Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB) Bought by Interval Partners LP

Interval Partners LP acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $2,578,000. Interval Partners LP owned about 0.11% of Spectrum Brands as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $114.00 target price on shares of Spectrum Brands in a report on Friday, June 7th. UBS Group lifted their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Canaccord Genuity Group reduced their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.88.

Spectrum Brands Price Performance

NYSE SPB opened at $93.23 on Tuesday. 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 company has a market cap of $2.61 billion, a PE ratio of 1.89, a price-to-earnings-growth 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 firm’s 50-day simple moving average is $88.98 and its two-hundred day simple moving average is $87.34.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts predict that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.80%. Spectrum Brands’s dividend payout ratio (DPR) is currently 3.40%.

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.