Magnetar Financial LLC Invests $985,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Magnetar Financial LLC purchased a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,657 shares of the company’s stock, valued at approximately $985,000.

Several other institutional investors also recently modified their holdings of SPB. Brooklyn Investment Group bought a new stake in shares of Spectrum Brands in the third quarter worth $31,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Spectrum Brands in the fourth quarter worth $50,000. Quantbot Technologies LP bought a new stake in shares of Spectrum Brands in the third quarter worth $62,000. Quarry LP grew its stake in shares of Spectrum Brands by 70.9% in the third quarter. Quarry LP now owns 974 shares of the company’s stock worth $93,000 after purchasing an additional 404 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock worth $100,000 after purchasing an additional 375 shares during the last quarter.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $69.50 on Friday. The firm’s 50-day moving average price is $78.82 and its 200-day moving average price is $86.32. Spectrum Brands Holdings, Inc. has a 1-year low of $68.74 and a 1-year high of $96.74. The firm has a market capitalization of $1.83 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.70 and a beta of 1.20. 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 (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating 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 quarter last year, the company earned $0.78 EPS. Equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal 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 issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.71%. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group reduced their price objective 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. Royal Bank of Canada cut their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.43.

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.