Oppenheimer Asset Management Inc. Takes $571,000 Position in Spectrum Brands Holdings Inc (SPB)

Oppenheimer Asset Management Inc. acquired a new position in shares of Spectrum Brands Holdings Inc (NYSE:SPB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,643 shares of the company’s stock, valued at approximately $571,000.

Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Spectrum Brands by 8.2% in the first quarter. Legal & General Group Plc now owns 29,952 shares of the company’s stock valued at $3,106,000 after buying an additional 2,258 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Spectrum Brands in the second quarter valued at $40,155,000. Bank of Montreal Can raised its stake in shares of Spectrum Brands by 870.0% during the 2nd quarter. Bank of Montreal Can now owns 100,315 shares of the company’s stock valued at $8,188,000 after purchasing an additional 89,973 shares during the period. Highland Capital Management LLC bought a new stake in shares of Spectrum Brands during the 2nd quarter valued at $393,000. Finally, SeaBridge Investment Advisors LLC bought a new stake in shares of Spectrum Brands during the 2nd quarter valued at $1,250,000.

SPB opened at $66.71 on Thursday. Spectrum Brands Holdings Inc has a 12-month low of $58.88 and a 12-month high of $119.94. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.14 and a quick ratio of 2.68.

A number of analysts recently issued reports on SPB shares. TheStreet upgraded Spectrum Brands from a “c” rating to a “b-” rating in a research note on Monday, August 20th. Zacks Investment Research upgraded Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Tuesday, September 25th. BMO Capital Markets boosted their price objective on Spectrum Brands from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Gabelli reiterated a “buy” rating on shares of Spectrum Brands in a research note on Friday, July 27th. Finally, ValuEngine upgraded Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Spectrum Brands presently has a consensus rating of “Buy” and a consensus price target of $118.45.

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Spectrum Brands 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: Inflation

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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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