Aristeia Capital L.L.C. Takes Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Aristeia Capital L.L.C. acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,800 shares of the company's stock, valued at approximately $1,588,000. Aristeia Capital L.L.C. owned approximately 0.07% of Spectrum Brands as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in shares of Spectrum Brands in the fourth quarter valued at about $16,606,000. Trexquant Investment LP lifted its holdings in shares of Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock valued at $12,563,000 after purchasing an additional 143,068 shares in the last quarter. Callodine Capital Management LP raised its position in Spectrum Brands by 29.8% in the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after buying an additional 121,000 shares during the last quarter. First Trust Advisors LP increased its position in shares of Spectrum Brands by 261.9% in the fourth quarter. First Trust Advisors LP now owns 163,143 shares of the company's stock valued at $13,784,000 after acquiring an additional 118,060 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Spectrum Brands by 76.4% in the 4th quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock valued at $22,095,000 after acquiring an additional 113,238 shares during the period.

Spectrum Brands Stock Up 3.6 %

Shares of SPB stock traded up $2.24 during mid-day trading on Thursday, hitting $64.12. The company's stock had a trading volume of 373,814 shares, compared to its average volume of 419,963. The business has a 50-day moving average price of $66.48 and a 200 day moving average price of $79.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 52-week low of $56.00 and a 52-week high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.81). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the business posted $1.62 earnings per share. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 27th. Spectrum Brands's dividend payout ratio is currently 46.19%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPB. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group decreased their price target on Spectrum Brands from $106.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Royal Bank of Canada dropped their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.43.

Spectrum Brands Company 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.