Spectrum Brands Holdings, Inc. (NYSE:SPB – Get Free Report) CEO David M. Maura bought 20,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $66.41 per share, with a total value of $1,328,200.00. Following the transaction, the chief executive officer now owns 744,391 shares of the company’s stock, valued at $49,435,006.31. The purchase was disclosed in a filing with the SEC, which is available at this link.
Spectrum Brands Stock Performance
Shares of NYSE SPB traded up $1.31 during trading hours on Tuesday, hitting $67.89. 1,147,065 shares of the company’s stock were exchanged, compared to its average volume of 680,043. Spectrum Brands Holdings, Inc. has a 1-year low of $48.97 and a 1-year high of $85.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.83 and a quick ratio of 3.22. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 1.51, a PEG ratio of 0.64 and a beta of 1.36. The company’s 50-day moving average price is $75.39 and its 200-day moving average price is $76.51.
Spectrum Brands (NYSE:SPB – Get Free Report) last posted its quarterly earnings data on Friday, November 17th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.33. Spectrum Brands had a return on equity of 3.63% and a net margin of 61.72%. The business had revenue of $740.70 million during the quarter, compared to analysts’ expectations of $739.43 million. During the same quarter in the previous year, the firm earned $0.48 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 3.43 earnings per share for the current fiscal year.
Spectrum Brands Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 30th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.68 annualized dividend and a yield of 2.47%. Spectrum Brands’s dividend payout ratio (DPR) is 3.76%.
Wall Street Analysts Forecast Growth
SPB has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their target price on Spectrum Brands from $94.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, November 20th. Royal Bank of Canada lowered their target price on Spectrum Brands from $96.00 to $89.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 22nd. Wells Fargo & Company downgraded Spectrum Brands from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $90.00 to $73.00 in a research note on Monday, November 20th. Finally, StockNews.com assumed coverage on Spectrum Brands in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $82.40.
Check Out Our Latest Analysis on SPB
Hedge Funds Weigh In On Spectrum Brands
Large investors have recently added to or reduced their stakes in the company. BOKF NA acquired a new position in Spectrum Brands in the 1st quarter valued at approximately $30,000. Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after acquiring an additional 160 shares in the last quarter. Captrust Financial Advisors raised its holdings in Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after acquiring an additional 121 shares in the last quarter. CWM LLC raised its holdings in Spectrum Brands by 34.6% in the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock valued at $54,000 after acquiring an additional 177 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Spectrum Brands by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares in the last quarter.
About Spectrum Brands
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.
Further Reading
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