Spectrum Brands (NYSE:SPB) Hits New 1-Year High – Here’s What Happened

Spectrum Brands Holdings Inc. (NYSE:SPB) reached a new 52-week high on Wednesday . The company traded as high as $88.47 and last traded at $88.4850, with a volume of 151430 shares traded. The stock had previously closed at $84.12.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SPB shares. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Canaccord Genuity Group cut their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Wells Fargo & Company boosted their price target on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Spectrum Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Spectrum Brands Trading Up 5.0%

The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $81.60 and a two-hundred day moving average of $75.85.

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

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were paid a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s dividend payout ratio (DPR) is presently 35.88%.

Insider Buying and Selling

In other news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the acquisition, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the period. Callodine Capital Management LP lifted its holdings in shares of Spectrum Brands by 20.4% during the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after buying an additional 350,261 shares during the last quarter. LSV Asset Management boosted its position in shares of Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after acquiring an additional 17,100 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Spectrum Brands by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company’s stock valued at $34,263,000 after acquiring an additional 33,194 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after acquiring an additional 224,481 shares during the last quarter.

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.