13,291 Shares in Spectrum Brands, Inc. Common Stock (SPB) Purchased by BlueMountain Capital Management LLC

BlueMountain Capital Management LLC purchased a new stake in Spectrum Brands, Inc. Common Stock (NYSE:SPB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,291 shares of the company’s stock, valued at approximately $1,085,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Spectrum Brands, Inc. Common Stock in the 1st quarter valued at $112,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Spectrum Brands, Inc. Common Stock during the 1st quarter worth about $162,000. Great Lakes Advisors LLC bought a new position in shares of Spectrum Brands, Inc. Common Stock during the 1st quarter worth about $211,000. Ostrum Asset Management bought a new position in shares of Spectrum Brands, Inc. Common Stock during the 1st quarter worth about $245,000. Finally, Korea Investment CORP bought a new position in shares of Spectrum Brands, Inc. Common Stock during the 1st quarter worth about $342,000.

SPB has been the subject of a number of analyst reports. ValuEngine raised shares of Spectrum Brands, Inc. Common Stock from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Oppenheimer reduced their price objective on shares of Spectrum Brands, Inc. Common Stock from $130.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 18th. Bank of America initiated coverage on shares of Spectrum Brands, Inc. Common Stock in a report on Friday, July 20th. They set a “neutral” rating and a $84.00 price objective for the company. TheStreet raised shares of Spectrum Brands, Inc. Common Stock from a “c” rating to a “b-” rating in a report on Monday, August 20th. Finally, Gabelli reaffirmed a “buy” rating on shares of Spectrum Brands, Inc. Common Stock in a report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Spectrum Brands, Inc. Common Stock currently has a consensus rating of “Buy” and an average price target of $125.10.

Shares of Spectrum Brands, Inc. Common Stock stock opened at $83.08 on Friday. The stock has a market cap of $4.30 billion, a P/E ratio of -135.24 and a beta of 1.66. The company has a quick ratio of 2.68, a current ratio of 3.14 and a debt-to-equity ratio of 3.07. Spectrum Brands, Inc. Common Stock has a 12-month low of $58.88 and a 12-month high of $119.94.

Spectrum Brands, Inc. Common Stock (NYSE:SPB) last announced its earnings results on Thursday, July 26th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.21. The business had revenue of $945.50 million during the quarter, compared to analysts’ expectations of $900.23 million. Spectrum Brands, Inc. Common Stock had a net margin of 22.32% and a negative return on equity of 4.00%. The firm’s revenue for the quarter was down 27.5% on a year-over-year basis. During the same quarter last year, the company posted $1.71 EPS. equities research analysts forecast that Spectrum Brands, Inc. Common Stock will post 3.52 EPS for the current fiscal year.

The company also recently announced a special dividend, which was paid on Tuesday, September 11th. Investors of record on Tuesday, August 14th were given a dividend of $0.42 per share. The ex-dividend date was Monday, August 13th. Spectrum Brands, Inc. Common Stock’s dividend payout ratio (DPR) is currently -270.97%.

Spectrum Brands, Inc. Common Stock Profile

Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.

Further Reading: Technical Analysis of Stocks, How Can It Help

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Institutional Ownership by Quarter for Spectrum Brands, Inc. Common Stock (NYSE:SPB)

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