Squarepoint Ops LLC Has $2.52 Million Position in Spectrum Brands Holdings Inc. $SPB

Squarepoint Ops LLC cut its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 26.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,487 shares of the company’s stock after selling 16,974 shares during the quarter. Squarepoint Ops LLC’s holdings in Spectrum Brands were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SPB. GAMMA Investing LLC boosted its position in Spectrum Brands by 120.3% during the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at about $41,000. Blue Trust Inc. grew its stake in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after buying an additional 328 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Spectrum Brands by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after buying an additional 215 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Spectrum Brands during the second quarter valued at approximately $103,000.

Spectrum Brands Stock Performance

NYSE:SPB opened at $61.34 on Thursday. The firm has a market capitalization of $1.43 billion, a PE ratio of 15.49 and a beta of 0.73. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $90.07. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm’s fifty day simple moving average is $56.02 and its 200 day simple moving average is $55.32.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $1.84. The firm had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. On average, sell-side analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, November 24th. This represents a $1.88 annualized dividend and a yield of 3.1%. Spectrum Brands’s dividend payout ratio is presently 47.47%.

Analyst Upgrades and Downgrades

SPB has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group increased their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company boosted their price target on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.00.

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.