Monimus Capital Management LP Invests $3.17 Million in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Monimus Capital Management LP bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,557 shares of the company's stock, valued at approximately $3,173,000. Spectrum Brands makes up about 3.0% of Monimus Capital Management LP's holdings, making the stock its 13th biggest holding. Monimus Capital Management LP owned about 0.14% of Spectrum Brands as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPB. First Eagle Investment Management LLC lifted its stake in Spectrum Brands by 9.0% in 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 in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Spectrum Brands by 2.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 110,428 shares of the company's stock valued at $9,330,000 after buying an additional 2,581 shares in the last quarter. Swiss National Bank increased its stake in shares of Spectrum Brands by 0.7% in the 4th quarter. Swiss National Bank now owns 55,099 shares of the company's stock worth $4,655,000 after acquiring an additional 400 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Spectrum Brands by 37.9% during the 4th quarter. Great Lakes Advisors LLC now owns 152,068 shares of the company's stock valued at $12,848,000 after acquiring an additional 41,792 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in shares of Spectrum Brands during the 4th quarter valued at about $16,606,000.

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Wall Street Analysts Forecast Growth

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

Spectrum Brands Stock Down 2.8 %

Shares of SPB stock traded down $2.03 during trading on Tuesday, reaching $70.51. The company's stock had a trading volume of 58,506 shares, compared to its average volume of 376,216. Spectrum Brands Holdings, Inc. has a 1-year low of $69.85 and a 1-year high of $96.74. The stock's 50-day moving average price is $79.93 and its 200 day moving average price is $86.89. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate 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 prior year, the business earned $0.78 earnings per share. On average, research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's payout ratio is presently 46.19%.

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.