Two Sigma Advisers LP Acquires 187,400 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Two Sigma Advisers LP increased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 403.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,800 shares of the company's stock after purchasing an additional 187,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.86% of Spectrum Brands worth $19,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Spectrum Brands in the 4th quarter valued at approximately $387,000. SG Americas Securities LLC increased its holdings in shares of Spectrum Brands by 478.4% in the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock valued at $1,141,000 after acquiring an additional 11,166 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Spectrum Brands during the 4th quarter worth $16,606,000. Finally, Raymond James Financial Inc. bought a new position in Spectrum Brands during the 4th quarter worth $972,000.

Insider Buying and Selling at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura sold 66,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the transaction, the chief executive officer now owns 723,607 shares in the company, valued at $47,417,966.71. This trade represents a 8.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.60% of the company's stock.

Spectrum Brands Trading Up 1.7%

Shares of Spectrum Brands stock traded up $0.97 during trading on Tuesday, reaching $58.61. 105,566 shares of the company were exchanged, compared to its average volume of 476,538. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a twelve month low of $56.50 and a twelve month high of $96.62. The business has a 50-day moving average price of $63.86 and a 200-day moving average price of $76.94. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.70 and a beta of 1.00.

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

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.21%. Spectrum Brands's dividend payout ratio is 89.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Monness Crespi & Hardt cut their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $94.00 to $102.00 in a research report on Friday, February 7th. UBS Group increased their price objective on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Royal Bank of Canada cut their price target on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

About Spectrum Brands

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.