Caxton Associates LLP Makes New Investment in 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 position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,842 shares of the company's stock, valued at approximately $1,849,000. Caxton Associates LLP owned approximately 0.10% of Spectrum Brands as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SPB. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Spectrum Brands by 82.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,938 shares of the company's stock valued at $425,000 after purchasing an additional 2,679 shares during the period. Manning & Napier Advisors LLC lifted its stake in shares of Spectrum Brands by 33.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company's stock valued at $14,310,000 after purchasing an additional 50,000 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands in the 1st quarter valued at $118,000. GAMMA Investing LLC lifted its stake in shares of Spectrum Brands by 4,757.5% in the 1st quarter. GAMMA Investing LLC now owns 15,884 shares of the company's stock valued at $1,137,000 after purchasing an additional 15,557 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Spectrum Brands in the 1st quarter valued at $386,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price target on Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Canaccord Genuity Group cut their price target on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Wells Fargo & Company cut their price target on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Spectrum Brands presently has an average rating of "Moderate Buy" and an average price target of $74.80.

Spectrum Brands Trading Down 2.7%

Spectrum Brands stock traded down $1.47 during mid-day trading on Friday, hitting $53.43. 267,940 shares of the company's stock were exchanged, compared to its average volume of 370,532. The firm has a market capitalization of $1.29 billion, a P/E ratio of 19.94 and a beta of 0.83. Spectrum Brands Holdings Inc. has a fifty-two week low of $50.73 and a fifty-two week high of $96.62. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The company's 50 day simple moving average is $56.09 and its 200-day simple moving average is $60.19.

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

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's dividend payout ratio 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.