Monimus Capital Management LP Acquires New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Monimus Capital Management LP purchased a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 37,557 shares of the company's stock, valued at approximately $3,173,000. Spectrum Brands accounts for about 3.0% of Monimus Capital Management LP's portfolio, making the stock its 13th largest position. Monimus Capital Management LP owned 0.14% of Spectrum Brands as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. raised its position in shares of Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company's stock valued at $3,905,000 after purchasing an additional 5,641 shares during the period. Empowered Funds LLC bought a new stake in shares of Spectrum Brands during the 4th quarter valued at $387,000. Everence Capital Management Inc. bought a new stake in shares of Spectrum Brands during the 4th quarter valued at $553,000. SG Americas Securities LLC grew its stake in Spectrum Brands by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock valued at $1,141,000 after acquiring an additional 11,166 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after acquiring an additional 7,198 shares in the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Canaccord Genuity Group raised shares of 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. 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 note on Friday, February 7th. Finally, UBS Group cut their target price on shares of 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.43.

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Spectrum Brands Price Performance

Shares of NYSE:SPB traded down $1.84 on Tuesday, reaching $70.69. The company's stock had a trading volume of 243,293 shares, compared to its average volume of 376,516. Spectrum Brands Holdings, Inc. has a 52-week low of $69.85 and a 52-week high of $96.74. The company has a market cap of $1.86 billion, a P/E ratio of 17.37, a PEG ratio of 1.70 and a beta of 1.20. The company has a 50-day simple moving average of $79.66 and a 200 day simple moving average of $86.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

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

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.66%. Spectrum Brands's dividend payout ratio (DPR) is presently 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.