Spectrum Brands (NYSE:SPB) Sets New 12-Month High – Here’s What Happened

Spectrum Brands Holdings Inc. (NYSE:SPB) shares hit a new 52-week high on Monday . The company traded as high as $91.42 and last traded at $90.24, with a volume of 10232 shares trading hands. The stock had previously closed at $88.81.

Wall Street Analyst Weigh In

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

Spectrum Brands Trading Up 1.1%

The firm has a market cap of $2.06 billion, a PE ratio of 17.12, a PEG ratio of 2.79 and a beta of 0.64. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $82.98 and its two-hundred day simple moving average is $77.48.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.21. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

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

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Spectrum Brands

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares in the last quarter. Headlands Technologies LLC bought a new stake in Spectrum Brands during the 2nd quarter valued at about $41,000. Finally, Quarry LP purchased a new position in Spectrum Brands in the third quarter worth about $51,000.

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.