Callodine Capital Management LP Boosts Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Callodine Capital Management LP grew its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 29.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 527,500 shares of the company's stock after buying an additional 121,000 shares during the period. Spectrum Brands makes up about 9.2% of Callodine Capital Management LP's investment portfolio, making the stock its largest holding. Callodine Capital Management LP owned about 1.93% of Spectrum Brands worth $44,568,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Anchor Capital Advisors LLC boosted its stake in Spectrum Brands by 1.2% during the 4th quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after purchasing an additional 184 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Spectrum Brands by 5.3% during the fourth quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock valued at $308,000 after buying an additional 185 shares during the last quarter. Legato Capital Management LLC increased its holdings in Spectrum Brands by 2.2% in the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock worth $786,000 after buying an additional 198 shares in the last quarter. West Oak Capital LLC lifted its stake in Spectrum Brands by 1.4% during the 4th quarter. West Oak Capital LLC now owns 27,359 shares of the company's stock valued at $2,312,000 after acquiring an additional 375 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Spectrum Brands by 46.5% during the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after acquiring an additional 375 shares during the last quarter.

Spectrum Brands Price Performance

NYSE SPB traded up $1.84 during trading hours on Wednesday, reaching $62.29. The company's stock had a trading volume of 332,890 shares, compared to its average volume of 407,094. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a 1 year low of $57.66 and a 1 year high of $96.74. The firm's 50-day moving average price is $69.92 and its 200-day moving average price is $81.65. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's payout ratio is 46.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPB shares. Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. UBS Group cut 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. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.43.

About Spectrum Brands

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.