Oppenheimer Asset Management Inc. acquired a new position in shares of Spectrum Brands Holdings Inc (NYSE:SPB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,643 shares of the company’s stock, valued at approximately $571,000.
A number of other large investors have also recently made changes to their positions in the business. Legal & General Group Plc raised its stake in Spectrum Brands by 8.2% during the 1st quarter. Legal & General Group Plc now owns 29,952 shares of the company’s stock worth $3,106,000 after acquiring an additional 2,258 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth $40,155,000. Bank of Montreal Can raised its stake in Spectrum Brands by 870.0% during the 2nd quarter. Bank of Montreal Can now owns 100,315 shares of the company’s stock worth $8,188,000 after acquiring an additional 89,973 shares in the last quarter. Highland Capital Management LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth $393,000. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth $1,250,000.
Several brokerages have issued reports on SPB. BMO Capital Markets raised their price objective on shares of Spectrum Brands from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Gabelli reissued a “buy” rating on shares of Spectrum Brands in a research report on Friday, July 27th. ValuEngine raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. TheStreet raised shares of Spectrum Brands from a “d” rating to a “c-” rating in a research report on Monday, July 16th. Finally, Bank of America began coverage on shares of Spectrum Brands in a research report on Friday, July 20th. They set a “neutral” rating and a $84.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $118.45.
Shares of Spectrum Brands stock opened at $66.71 on Thursday. Spectrum Brands Holdings Inc has a 1 year low of $58.88 and a 1 year high of $119.94. The company has a current ratio of 3.14, a quick ratio of 2.68 and a debt-to-equity ratio of 3.07.
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About Spectrum Brands
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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