Spectrum Brands: Significant FCF At A Discounted Valuation
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Wed, Oct. 15, 2:17 PM
- The ten companies in the Russell 1000 in which hedge funds hold the biggest stakes are down an average of 16% since that index hit an all-time high on September 18, according to Bloomberg. This stands against a slide in the index of just 7%.
- “The reactive selling is institutional,” says a portfolio manager. “Now redemptions are coming in, and that’s putting more pressure on the market. All these things are in the mix for perhaps exacerbating the move.”
- The list: Burger King Worldwide (BKW -4.5%), CVR Energy (CVI -2.4%), Spectrum Brands Holdings (SPB -3.3%), Ally Financial (ALLY -2.6%), Zynga (ZNGA -1.3%), NorthStar Realty (NRF -1.9%), Seventy Seven Energy (SSE -6.6%), Platform Specialty Products (PAH -1.4%), and SunEdison (SUNE -0.6%).
Feb. 6, 2013, 5:14 PM
Oct. 9, 2012, 9:01 AM
Sep. 21, 2012, 1:44 PMSpectrum Brands (SPB -2.1%) is apparently in final talks to buy a unit that makes door locks and bath fixtures from Stanley Black & Decker (SWK +2.3%), edging out Apollo Global, who was also competing for the business. SWK put its hardware and home-improvement business on the auction block earlier this year, and the deal could fetch around $1.5B. The win would be a big one for SPB whose current market value is only $2.1B. | Comment!
Dec. 1, 2011, 12:31 PM
Nov. 29, 2011, 2:17 PM
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