Magnetar Financial LLC Purchases New Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Magnetar Financial LLC acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,657 shares of the company's stock, valued at approximately $985,000.

A number of other large investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its position in shares of Spectrum Brands by 17.7% in the 4th quarter. Teacher Retirement System of Texas now owns 20,756 shares of the company's stock valued at $1,754,000 after buying an additional 3,118 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in Spectrum Brands by 32.3% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 3,826 shares of the company's stock valued at $323,000 after acquiring an additional 933 shares during the last quarter. Monimus Capital Management LP acquired a new stake in Spectrum Brands during the 4th quarter valued at approximately $3,173,000. First Eagle Investment Management LLC raised its holdings in Spectrum Brands by 9.0% during the 4th quarter. First Eagle Investment Management LLC now owns 186,272 shares of the company's stock worth $15,738,000 after purchasing an additional 15,400 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Spectrum Brands by 2.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 110,428 shares of the company's stock worth $9,330,000 after purchasing an additional 2,581 shares during the period.

Spectrum Brands Stock Up 2.0 %

SPB stock traded up $1.39 during trading on Monday, reaching $71.06. 188,022 shares of the stock were exchanged, compared to its average volume of 377,139. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a twelve month low of $68.74 and a twelve month high of $96.74. The firm's 50 day moving average is $78.82 and its 200 day moving average is $86.23. The firm has a market cap of $1.87 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

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Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results 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 return on equity of 6.44% and a net margin of 4.01%. During the same period in the previous year, the company posted $0.78 EPS. As a group, research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's dividend payout ratio is currently 46.19%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPB shares. Royal Bank of Canada decreased their price objective 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. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company dropped their price objective 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 decreased their target price on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.43.

Spectrum Brands 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.