David M. Maura Sells 5,180 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) Stock

Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO David M. Maura sold 5,180 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the completion of the transaction, the chief executive officer now directly owns 718,427 shares in the company, valued at $45,814,089.79. This represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $65.50 on Friday. The firm’s 50 day moving average is $65.18 and its two-hundred day moving average is $78.31. Spectrum Brands Holdings, Inc. has a 52 week low of $56.50 and a 52 week high of $96.62. The firm has a market capitalization of $1.64 billion, a P/E ratio of 16.09, a PEG ratio of 1.70 and a beta of 1.00. 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 results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. During the same quarter in the previous year, the business posted $1.62 EPS. Spectrum Brands’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.87%. Spectrum Brands’s payout ratio is currently 89.95%.

Institutional Investors Weigh In On Spectrum Brands

Several large investors have recently made changes to their positions in SPB. Caxton Associates LLP acquired a new position in shares of Spectrum Brands during the first quarter valued at approximately $1,849,000. Goldman Sachs Group Inc. increased its stake in shares of Spectrum Brands by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after acquiring an additional 114,143 shares during the period. Parkwood LLC increased its stake in shares of Spectrum Brands by 9.9% during the first quarter. Parkwood LLC now owns 137,524 shares of the company’s stock valued at $9,840,000 after acquiring an additional 12,406 shares during the period. NewEdge Advisors LLC increased its stake in shares of Spectrum Brands by 173.0% during the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock valued at $386,000 after acquiring an additional 3,415 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Spectrum Brands by 64.7% during the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock valued at $11,913,000 after acquiring an additional 65,424 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPB. Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company cut their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. UBS Group raised their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Monness Crespi & Hardt cut their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

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.