Magnetar Financial LLC Buys Shares of 11,657 Spectrum Brands Holdings, Inc. (NYSE:SPB)

Magnetar Financial LLC purchased 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 13F filing with the SEC. The firm purchased 11,657 shares of the company's stock, valued at approximately $985,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $31,000. Steward Partners Investment Advisory LLC bought a new position in shares of Spectrum Brands during the 4th quarter worth approximately $50,000. Quantbot Technologies LP bought a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $62,000. Quarry LP grew its position in shares of Spectrum Brands by 70.9% during the 3rd quarter. Quarry LP now owns 974 shares of the company's stock worth $93,000 after buying an additional 404 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Spectrum Brands by 46.5% in 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank of Canada reduced their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and raised their target price for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company dropped their price target on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their price target on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Spectrum Brands presently has an average rating of "Moderate Buy" and a consensus price target of $103.43.

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Spectrum Brands Stock Up 0.5 %

SPB stock traded up $0.36 during mid-day trading on Wednesday, reaching $70.17. 338,106 shares of the company traded hands, compared to its average volume of 377,344. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average price is $78.28 and its 200 day moving average price is $85.91. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a fifty-two week low of $68.74 and a fifty-two week high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) 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 in the prior year, the business posted $0.78 EPS. As a group, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands's payout ratio is 46.19%.

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.