Callodine Capital Management LP Boosts Position in Spectrum Brands Holdings Inc. $SPB

Callodine Capital Management LP increased its position in Spectrum Brands Holdings Inc. (NYSE:SPB) by 85.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,354,057 shares of the company’s stock after purchasing an additional 624,057 shares during the quarter. Spectrum Brands makes up 7.4% of Callodine Capital Management LP’s portfolio, making the stock its 2nd biggest position. Callodine Capital Management LP owned 0.06% of Spectrum Brands worth $71,765,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPB. Nisa Investment Advisors LLC raised its position in shares of Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after acquiring an additional 215 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. grew its stake in shares of Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares in the last quarter. MQS Management LLC lifted its position in shares of Spectrum Brands by 13.6% in the second quarter. MQS Management LLC now owns 5,365 shares of the company’s stock worth $284,000 after purchasing an additional 642 shares in the last quarter. Finally, Humankind Investments LLC boosted its holdings in Spectrum Brands by 13.9% during the first quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after purchasing an additional 710 shares during the last quarter.

Wall Street Analyst Weigh In

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

Spectrum Brands Price Performance

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

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

Spectrum Brands Dividend Announcement

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

About Spectrum Brands

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.