Aristeia Capital L.L.C. Acquires New Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

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

Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Spectrum Brands in the fourth quarter valued at approximately $387,000. Everence Capital Management Inc. purchased a new position in shares of Spectrum Brands in the fourth quarter valued at approximately $553,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock worth $1,141,000 after acquiring an additional 11,166 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Spectrum Brands in the 4th quarter valued at $16,606,000.

Spectrum Brands Trading Down 2.8 %

SPB traded down $1.83 during trading hours on Tuesday, reaching $63.07. The company's stock had a trading volume of 694,150 shares, compared to its average volume of 416,506. The stock has a market cap of $1.66 billion, a PE ratio of 15.50, a P/E/G ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a fifty-two week low of $57.66 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The business's 50-day moving average is $67.08 and its 200-day moving average is $79.83.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period last year, the firm posted $0.78 EPS. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th 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 2.98%. Spectrum Brands's dividend payout ratio is presently 46.19%.

Analyst Ratings Changes

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

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.