Y Intercept Hong Kong Ltd Sells 6,050 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Y Intercept Hong Kong Ltd lowered its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 57.9% in the third quarter, Holdings Channel reports. The fund owned 4,407 shares of the company’s stock after selling 6,050 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Spectrum Brands were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new stake in shares of Spectrum Brands during the third quarter worth $27,000. Brooklyn Investment Group acquired a new stake in shares of Spectrum Brands during the 3rd quarter valued at $31,000. International Assets Investment Management LLC grew its position in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 shares during the last quarter. Quarry LP increased its holdings in Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after purchasing an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Spectrum Brands in the second quarter valued at about $50,000.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $89.45 on Tuesday. The company has a market cap of $2.51 billion, a P/E ratio of 22.22, a PEG ratio of 1.58 and a beta of 1.19. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $91.45 and a two-hundred day moving average price of $89.70. Spectrum Brands Holdings, Inc. has a 1-year low of $75.50 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. As a group, analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current 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 paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.10%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

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.