Renaissance Technologies LLC Acquires 68,000 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Renaissance Technologies LLC increased its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,984 shares of the company's stock after purchasing an additional 68,000 shares during the period. Renaissance Technologies LLC owned about 0.55% of Spectrum Brands worth $12,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SPB. Steward Partners Investment Advisory LLC bought a new stake in Spectrum Brands during the 4th quarter worth about $50,000. Blue Trust Inc. raised its position in Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV lifted its holdings in Spectrum Brands by 46.3% during the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after buying an additional 390 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at $221,000. Finally, Summit Trail Advisors LLC bought a new stake in shares of Spectrum Brands during the fourth quarter worth $237,000.

Spectrum Brands Stock Performance

Shares of SPB traded down $2.06 during midday trading on Monday, reaching $57.76. 31,860 shares of the stock were exchanged, compared to its average volume of 404,505. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The stock's 50 day simple moving average is $70.64 and its 200 day simple moving average is $82.03. Spectrum Brands Holdings, Inc. has a twelve month low of $55.79 and a twelve month high of $96.74. The company has a market cap of $1.52 billion, a P/E ratio of 14.19, a PEG ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the firm posted $0.78 EPS. On average, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's payout ratio is 46.19%.

Wall Street Analyst Weigh In

A number of analysts have commented on SPB shares. UBS Group lowered their target price on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a report on Thursday. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company decreased their price objective on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank of Canada dropped their target price 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.43.

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.