Newbrook Capital Advisors LP bought a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 682,642 shares of the company’s stock, valued at approximately $76,729,000. Spectrum Brands makes up 5.2% of Newbrook Capital Advisors LP’s holdings, making the stock its 10th largest position. Newbrook Capital Advisors LP owned 1.18% of Spectrum Brands at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in Spectrum Brands by 244.3% during the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after purchasing an additional 794 shares during the period. Captrust Financial Advisors acquired a new stake in Spectrum Brands during the 4th quarter worth $177,000. Eagle Boston Investment Management Inc. acquired a new stake in Spectrum Brands during the 4th quarter worth $201,000. State of Alaska Department of Revenue acquired a new stake in Spectrum Brands during the 4th quarter worth $202,000. Finally, Ellington Management Group LLC acquired a new stake in Spectrum Brands during the 4th quarter worth $202,000. Institutional investors and hedge funds own 48.28% of the company’s stock.
Spectrum Brands Holdings, Inc. (NYSE SPB) opened at $95.10 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.70 and a debt-to-equity ratio of 2.01. The stock has a market cap of $5,598.77, a PE ratio of 20.89, a PEG ratio of 1.52 and a beta of 0.84. Spectrum Brands Holdings, Inc. has a twelve month low of $94.14 and a twelve month high of $146.09.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th were issued a $0.42 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.77%. Spectrum Brands’s dividend payout ratio is presently 25.04%.
SPB has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Spectrum Brands from $124.00 to $140.00 in a research note on Tuesday, January 16th. Jefferies Group restated a “buy” rating and issued a $145.00 target price on shares of Spectrum Brands in a research note on Tuesday, January 9th. BMO Capital Markets set a $132.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Friday, November 17th. KeyCorp set a $130.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Gabelli upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $140.60.
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About Spectrum Brands
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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