CastleKnight Management LP Has $5.01 Million Holdings in Spectrum Brands Holdings Inc. $SPB

CastleKnight Management LP cut its stake in Spectrum Brands Holdings Inc. (NYSE:SPB) by 16.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 84,800 shares of the company’s stock after selling 17,200 shares during the quarter. CastleKnight Management LP’s holdings in Spectrum Brands were worth $5,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its stake in Spectrum Brands by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock worth $279,000 after purchasing an additional 140 shares during the period. Federated Hermes Inc. boosted its stake in shares of Spectrum Brands by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after buying an additional 157 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after buying an additional 335 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Spectrum Brands by 58.2% during the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock worth $73,000 after buying an additional 455 shares during the last quarter.

Spectrum Brands Trading Down 4.1%

Spectrum Brands stock opened at $80.58 on Thursday. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $86.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The stock has a market capitalization of $1.87 billion, a P/E ratio of 15.38, a PEG ratio of 2.64 and a beta of 0.65. The stock has a 50-day simple moving average of $80.50 and a 200 day simple moving average of $72.50.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. Analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.3%. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SPB shares. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday. Wall Street Zen upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura acquired 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is owned by company insiders.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.