Algert Global LLC Has $7.27 Million Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Algert Global LLC lessened its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 43.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,021 shares of the company's stock after selling 65,029 shares during the quarter. Algert Global LLC owned about 0.31% of Spectrum Brands worth $7,268,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its position in shares of Spectrum Brands by 1.7% in the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company's stock valued at $112,654,000 after acquiring an additional 22,484 shares during the period. Callodine Capital Management LP lifted its holdings in Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock worth $44,568,000 after acquiring an additional 121,000 shares in the last quarter. FIL Ltd grew its stake in Spectrum Brands by 8.7% in the fourth quarter. FIL Ltd now owns 461,568 shares of the company's stock valued at $38,998,000 after acquiring an additional 36,798 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after acquiring an additional 7,198 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Spectrum Brands by 76.4% during the fourth quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock worth $22,095,000 after purchasing an additional 113,238 shares during the period.

Spectrum Brands Stock Down 3.5 %

Shares of NYSE SPB traded down $2.27 during mid-day trading on Friday, hitting $61.83. The company had a trading volume of 663,349 shares, compared to its average volume of 417,453. Spectrum Brands Holdings, Inc. has a one year low of $56.50 and a one year high of $96.74. The company has a market capitalization of $1.63 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $66.03 and a two-hundred day simple moving average of $79.22.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The company had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. On average, equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. Spectrum Brands's dividend payout ratio is presently 46.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on SPB shares. UBS Group increased their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday. Royal Bank of Canada dropped their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Spectrum Brands presently has a consensus rating of "Moderate Buy" and an average price target of $95.71.

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.