Dark Forest Capital Management LP Takes Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Dark Forest Capital Management LP purchased a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,356 shares of the company’s stock, valued at approximately $2,818,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Anchor Capital Advisors LLC grew its stake in Spectrum Brands by 1.2% during the fourth quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company’s stock worth $1,318,000 after buying an additional 184 shares in the last quarter. Fox Run Management L.L.C. boosted its position in shares of Spectrum Brands by 5.3% during the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company’s stock worth $308,000 after acquiring an additional 185 shares in the last quarter. Legato Capital Management LLC increased its stake in Spectrum Brands by 2.2% in the fourth quarter. Legato Capital Management LLC now owns 9,299 shares of the company’s stock valued at $786,000 after acquiring an additional 198 shares during the last quarter. Blue Trust Inc. increased 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 acquiring an additional 375 shares during the last quarter. Finally, West Oak Capital LLC raised its position in Spectrum Brands by 1.4% during the fourth quarter. West Oak Capital LLC now owns 27,359 shares of the company’s stock valued at $2,312,000 after purchasing an additional 375 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPB shares. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Royal Bank of Canada decreased their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. UBS Group lowered their target price on Spectrum Brands from $106.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $95.43.

Spectrum Brands Stock Performance

NYSE:SPB opened at $60.34 on Wednesday. The stock’s 50-day moving average is $69.92 and its 200-day moving average is $81.65. The stock has a market cap of $1.59 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Spectrum Brands Holdings, Inc. has a 1-year low of $57.66 and a 1-year high of $96.74. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.78 earnings per share. Equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s payout ratio is presently 46.19%.

Spectrum Brands 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.