Spectrum Brands Holdings Inc. $SPB Shares Acquired by Callodine Capital Management LP

Callodine Capital Management LP raised its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 85.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,354,057 shares of the company’s stock after acquiring an additional 624,057 shares during the period. Spectrum Brands comprises approximately 7.4% of Callodine Capital Management LP’s holdings, making the stock its 2nd largest holding. Callodine Capital Management LP owned 5.59% of Spectrum Brands worth $71,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPB. GAMMA Investing LLC raised its stake in shares of Spectrum Brands by 120.3% in the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Blue Trust Inc. increased its holdings in Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after buying an additional 328 shares during the period. Nisa Investment Advisors LLC increased its holdings in Spectrum Brands by 13.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after buying an additional 215 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Spectrum Brands in the 2nd quarter valued at $138,000. Finally, Quarry LP bought a new position in shares of Spectrum Brands during the 1st quarter worth about $157,000.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $57.22 on Friday. The business’s fifty day moving average is $54.85 and its two-hundred day moving average is $55.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26. The firm has a market cap of $1.34 billion, a P/E ratio of 14.45 and a beta of 0.73. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $96.62.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The business had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $738.57 million. During the same period in the previous year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, November 24th. Spectrum Brands’s dividend payout ratio is presently 47.47%.

Analyst Ratings Changes

SPB has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spectrum Brands in a report on Monday, December 1st. Canaccord Genuity Group raised their target price on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an “outperform” rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

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.