AXQ Capital LP Buys 974 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

AXQ Capital LP raised its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,800 shares of the company’s stock after acquiring an additional 974 shares during the quarter. AXQ Capital LP’s holdings in Spectrum Brands were worth $912,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares of Spectrum Brands by 2.0% in the fourth quarter. Sei Investments Co. now owns 211,412 shares of the company’s stock valued at $17,862,000 after buying an additional 4,050 shares during the last quarter. Semanteon Capital Management LP bought a new position in shares of Spectrum Brands in the fourth quarter valued at about $506,000. Magnetar Financial LLC bought a new stake in Spectrum Brands during the 4th quarter worth about $985,000. Teacher Retirement System of Texas raised its holdings in Spectrum Brands by 17.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,756 shares of the company’s stock worth $1,754,000 after purchasing an additional 3,118 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC raised its holdings in Spectrum Brands by 32.3% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 3,826 shares of the company’s stock worth $323,000 after purchasing an additional 933 shares during the last quarter.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $69.50 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 17.08, a PEG ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 1 year low of $68.74 and a 1 year high of $96.74. The business has a 50-day moving average of $78.82 and a 200-day moving average of $86.32. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.71%. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPB. Wells Fargo & Company dropped their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. UBS Group dropped their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price objective on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.43.

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.