AQR Capital Management LLC Purchases 113,238 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

AQR Capital Management LLC lifted its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 76.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,507 shares of the company's stock after buying an additional 113,238 shares during the period. AQR Capital Management LLC owned approximately 0.96% of Spectrum Brands worth $22,095,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Spectrum Brands during the 4th quarter valued at approximately $50,000. Blue Trust Inc. lifted its stake in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV grew its holdings in Spectrum Brands by 46.3% during the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after purchasing an additional 390 shares during the period. Summit Trail Advisors LLC purchased a new stake in Spectrum Brands in the fourth quarter worth $237,000. Finally, City Center Advisors LLC bought a new stake in shares of Spectrum Brands in the fourth quarter valued at $306,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPB. 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. UBS Group reduced their target price on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada cut their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $95.43.

Spectrum Brands Price Performance

NYSE SPB traded down $0.72 on Friday, hitting $63.38. The stock had a trading volume of 212,532 shares, compared to its average volume of 421,001. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. Spectrum Brands Holdings, Inc. has a 52-week low of $56.50 and a 52-week high of $96.74. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The firm has a 50-day moving average of $66.26 and a 200-day moving average of $79.41.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share 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 the consensus estimate of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. Spectrum Brands's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. Equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.97%. Spectrum Brands's payout ratio is presently 46.19%.

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.