State of New Jersey Common Pension Fund D Grows Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

State of New Jersey Common Pension Fund D increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,477 shares of the company’s stock after buying an additional 345 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Spectrum Brands worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Waldron Private Wealth LLC bought a new position in shares of Spectrum Brands during the third quarter valued at $27,000. Versant Capital Management Inc increased its stake in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after purchasing an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Spectrum Brands in the first quarter worth about $42,000. International Assets Investment Management LLC lifted its stake in shares of Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after buying an additional 471 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Spectrum Brands by 92.2% during the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after buying an additional 261 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPB. Deutsche Bank Aktiengesellschaft upped their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group upped their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Trading Down 6.1 %

SPB stock opened at $88.18 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74. The business has a 50 day simple moving average of $91.57 and a two-hundred day simple moving average of $89.38. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.26 and a beta of 1.23.

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

Spectrum Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. 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.