Cinctive Capital Management LP Acquires Shares of 77,572 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Cinctive Capital Management LP purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 77,572 shares of the company’s stock, valued at approximately $7,380,000. Cinctive Capital Management LP owned approximately 0.28% of Spectrum Brands at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SPB. Armistice Capital LLC increased 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 worth $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Spectrum Brands by 295.5% during the third quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock worth $17,388,000 after buying an additional 136,556 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Spectrum Brands by 10.4% in the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after acquiring an additional 123,733 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Spectrum Brands by 2,542.3% in the 2nd quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Spectrum Brands during the 2nd quarter worth approximately $9,670,000.

Spectrum Brands Stock Up 0.2 %

Shares of NYSE SPB opened at $91.95 on Monday. Spectrum Brands Holdings, Inc. has a 52-week low of $67.34 and a 52-week high of $96.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. The stock has a market cap of $2.58 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.60 and a beta of 1.19. The firm has a 50 day moving average price of $91.36 and a 200 day moving average price of $89.61.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data 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 net margin of 4.21% and a return on equity of 6.16%. The firm 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 EPS. Spectrum Brands’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be given a $0.47 dividend. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is currently 46.08%.

Analyst Ratings Changes

SPB has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Spectrum Brands has a consensus rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Company 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.