Spectrum Brands Holdings Inc. $SPB is Callodine Capital Management LP’s Largest Position

Callodine Capital Management LP trimmed its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 2,048,783 shares of the company’s stock after selling 16,433 shares during the period. Spectrum Brands comprises 10.6% of Callodine Capital Management LP’s investment portfolio, making the stock its biggest position. Callodine Capital Management LP owned about 0.09% of Spectrum Brands worth $150,995,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after buying an additional 310 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares during the period. Headlands Technologies LLC bought a new stake in Spectrum Brands during the second quarter valued at about $41,000. Finally, Quarry LP purchased a new position in shares of Spectrum Brands in the third quarter valued at about $51,000.

Insiders Place Their Bets

In other news, CEO David M. Maura acquired 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Spectrum Brands Stock Up 1.7%

Shares of SPB stock opened at $88.91 on Friday. The company’s fifty day simple moving average is $82.98 and its two-hundred day simple moving average is $77.36. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $90.60. The stock has a market cap of $2.04 billion, a P/E ratio of 16.97, a PEG ratio of 2.79 and a beta of 0.64. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. During the same quarter last year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 35.88%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPB shares. Wells Fargo & Company upped their price objective on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group decreased their target price on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.