Owl Creek Asset Management L.P. Has $24.83 Million Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Owl Creek Asset Management L.P. decreased its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 311,261 shares of the company’s stock after selling 138,978 shares during the quarter. Spectrum Brands accounts for approximately 1.9% of Owl Creek Asset Management L.P.’s holdings, making the stock its 9th largest position. Owl Creek Asset Management L.P. owned approximately 1.03% of Spectrum Brands worth $24,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 377 shares in the last quarter. Fifth Third Bancorp bought a new position in Spectrum Brands during the fourth quarter valued at about $71,000. DekaBank Deutsche Girozentrale bought a new position in Spectrum Brands during the fourth quarter valued at about $79,000. Finally, USA Financial Formulas bought a new position in Spectrum Brands during the third quarter valued at about $101,000.

Analysts Set New Price Targets

SPB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Spectrum Brands from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Monness Crespi & Hardt lifted their target price on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Canaccord Genuity Group lifted their target price on Spectrum Brands from $86.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a report on Friday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $99.86.

Spectrum Brands Stock Performance

SPB traded up $1.16 on Tuesday, hitting $90.76. The company had a trading volume of 153,619 shares, compared to its average volume of 406,195. The company’s fifty day moving average price is $86.54 and its 200 day moving average price is $82.31. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 1.81, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm had revenue of $718.50 million during the quarter, compared to analyst estimates of $708.54 million. During the same period in the previous year, the company earned ($0.14) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.85%. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

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.