Lecap Asset Management Ltd. Invests $829,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Lecap Asset Management Ltd. purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,814 shares of the company’s stock, valued at approximately $829,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harvey Partners LLC acquired a new stake in Spectrum Brands in the third quarter valued at approximately $19,837,000. Verition Fund Management LLC raised its holdings in shares of Spectrum Brands by 295.5% during the 3rd quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock valued at $17,388,000 after purchasing an additional 136,556 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Spectrum Brands by 10.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after purchasing an additional 123,733 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after purchasing an additional 112,530 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new position in Spectrum Brands during the third quarter worth $7,380,000.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $94.00 to $102.00 in a research report on Friday. UBS Group reduced their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada decreased their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Wedbush raised shares of Spectrum Brands from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $6.00 to $10.00 in a report on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.11.

Spectrum Brands Trading Up 2.3 %

Shares of Spectrum Brands stock opened at $78.19 on Friday. Spectrum Brands Holdings, Inc. has a 1 year low of $75.94 and a 1 year high of $96.74. The company’s fifty day simple moving average is $86.57 and its 200-day simple moving average is $89.04. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.36 and a beta of 1.20. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same period last year, the business posted $0.78 EPS. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.17 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 2.40%. Spectrum Brands’s dividend payout ratio (DPR) is 46.19%.

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.