Mittleman Brothers LLC Takes Position in Spectrum Brands Holdings Inc (SPB)

Mittleman Brothers LLC 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 13F filing with the Securities and Exchange Commission. The fund acquired 108,031 shares of the company’s stock, valued at approximately $8,072,000. Spectrum Brands comprises approximately 3.7% of Mittleman Brothers LLC’s portfolio, making the stock its 7th largest holding.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in Spectrum Brands during the 3rd quarter worth about $140,000. Cadence Capital Management LLC acquired a new position in Spectrum Brands during the 3rd quarter worth about $218,000. NJ State Employees Deferred Compensation Plan acquired a new position in Spectrum Brands during the 3rd quarter worth about $224,000. Signition LP acquired a new position in Spectrum Brands during the 3rd quarter worth about $244,000. Finally, Laurion Capital Management LP acquired a new position in Spectrum Brands during the 2nd quarter worth about $269,000.

SPB stock opened at $66.07 on Wednesday. Spectrum Brands Holdings Inc has a fifty-two week low of $58.88 and a fifty-two week high of $119.94. The company has a debt-to-equity ratio of 3.07, a quick ratio of 2.68 and a current ratio of 3.14. The company has a market cap of $3.51 billion, a P/E ratio of -106.56, a PEG ratio of 2.00 and a beta of 1.66.

A number of research analysts have recently issued reports on SPB shares. TheStreet raised Spectrum Brands from a “c” rating to a “b-” rating in a research note on Monday, August 20th. 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 reaffirmed a “buy” rating on shares of Spectrum Brands in a research note on Friday, July 27th. ValuEngine downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research raised Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $118.45.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/11/07/mittleman-brothers-llc-takes-position-in-spectrum-brands-holdings-inc-spb.html.

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.

See Also: What is the balance sheet?

Want to see what other hedge funds are holding SPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectrum Brands Holdings Inc (NYSE:SPB).

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

Receive News & Ratings for Spectrum Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply