Caxton Associates LLP Acquires Shares of 25,842 Spectrum Brands Holdings Inc. $SPB

Key Points

• Caxton Associates LLP has acquired 25,842 shares of Spectrum Brands Holdings Inc., valued at approximately $1.85 million, increasing their ownership to 0.10% of the company.
• Several hedge funds have significantly increased their stakes in Spectrum Brands, with Deutsche Bank AG raising its position by 165.5%, now holding 94,403 shares valued at $7.98 million.
• Spectrum Brands recently reported a 10.2% year-over-year decline in revenue and announced a quarterly dividend of $0.47, which represents a 3.4% yield.

Caxton Associates LLP acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,842 shares of the company's stock, valued at approximately $1,849,000. Caxton Associates LLP owned 0.10% of Spectrum Brands at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPB. Deutsche Bank AG raised its position in Spectrum Brands by 165.5% in the fourth quarter. Deutsche Bank AG now owns 94,403 shares of the company's stock valued at $7,976,000 after purchasing an additional 58,852 shares during the period. Graham Capital Management L.P. raised its position in Spectrum Brands by 73.7% in the fourth quarter. Graham Capital Management L.P. now owns 20,687 shares of the company's stock valued at $1,748,000 after purchasing an additional 8,776 shares during the period. Lazard Asset Management LLC raised its position in Spectrum Brands by 89.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock valued at $123,000 after purchasing an additional 692 shares during the period. Man Group plc raised its position in Spectrum Brands by 160.5% in the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after purchasing an additional 197,263 shares during the period. Finally, Quantinno Capital Management LP raised its position in Spectrum Brands by 39.2% in the fourth quarter. Quantinno Capital Management LP now owns 55,622 shares of the company's stock valued at $4,700,000 after purchasing an additional 15,650 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on the company. Monness Crespi & Hardt cut their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Canaccord Genuity Group dropped their target price on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the stock an "outperform" rating in a research report on Monday, August 11th. Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company dropped their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spectrum Brands has an average rating of "Moderate Buy" and a consensus price target of $74.80.

Spectrum Brands Stock Down 2.4%

NYSE:SPB opened at $55.49 on Tuesday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 20.71 and a beta of 0.83. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62. The stock has a 50-day simple moving average of $56.22 and a 200 day simple moving average of $60.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The firm's revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. Sell-side analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's dividend payout ratio (DPR) is 70.15%.

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.

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