State of New Jersey Common Pension Fund D Acquires 345 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

State of New Jersey Common Pension Fund D raised its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,477 shares of the company’s stock after purchasing an additional 345 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Spectrum Brands were worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Armistice Capital LLC raised its position in shares of Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after buying an additional 247,809 shares in the last quarter. Gabelli Funds LLC raised its position in Spectrum Brands by 217.7% during the first quarter. Gabelli Funds LLC now owns 165,594 shares of the company’s stock valued at $14,740,000 after purchasing an additional 113,470 shares during the period. Bank of Montreal Can raised its position in Spectrum Brands by 2,542.3% during the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock valued at $10,862,000 after purchasing an additional 113,337 shares during the period. Algert Global LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $9,670,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Spectrum Brands by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after purchasing an additional 112,530 shares during the period.

Analyst Ratings Changes

A number of analysts recently issued reports on SPB shares. UBS Group raised their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Trading Down 6.1 %

NYSE SPB opened at $88.18 on Friday. The stock has a market cap of $2.47 billion, a PE ratio of 24.91, a PEG ratio of 0.26 and a beta of 1.23. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $96.74. The company’s 50-day moving average price is $91.57 and its 200-day moving average price is $89.38. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. During the same quarter in the prior year, the company earned $1.36 earnings per share. Spectrum Brands’s revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.76 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.13%. Spectrum Brands’s payout ratio is 47.46%.

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.