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

Callodine Capital Management LP lowered its stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,048,783 shares of the company's stock after selling 16,433 shares during the quarter. Spectrum Brands accounts for 10.6% of Callodine Capital Management LP's portfolio, making the stock its largest position. Callodine Capital Management LP owned about 8.83% of Spectrum Brands worth $150,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SPB. ProShare Advisors LLC raised its stake in Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company's stock valued at $279,000 after buying an additional 140 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Spectrum Brands by 1.3% in the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company's stock worth $712,000 after buying an additional 157 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after acquiring an additional 335 shares during the period. Finally, CWM LLC grew its holdings in shares of Spectrum Brands by 58.2% in the fourth quarter. CWM LLC now owns 1,237 shares of the company's stock worth $73,000 after acquiring an additional 455 shares during the period.

Analyst Ratings Changes

A number of analysts recently commented on SPB shares. Wells Fargo & Company upped their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. Wall Street Zen cut Spectrum Brands from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Spectrum Brands in a research note on Tuesday. Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura acquired 2,500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares of the company's stock, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Spectrum Brands Trading Up 1.7%

Shares of SPB stock opened at $88.91 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.79 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $90.60. The firm has a fifty day moving average price of $82.98 and a 200-day moving average price of $77.36.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to analysts' expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.Spectrum Brands's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, equities analysts predict that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands's dividend payout ratio is presently 35.88%.

Spectrum Brands Profile

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.

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