Key Points
- CEO David Maura bought 2,500 shares of Spectrum Brands on May 20 at an average price of $72.85, spending $182,125. After the purchase, he owned 790,708 shares valued at about $57.6 million.
- Spectrum Brands beat quarterly expectations, reporting $1.25 EPS versus the $1.04 consensus and revenue of $708.9 million, up 4.9% year over year.
- The company also declared a quarterly dividend of $0.47 per share, implying an annualized dividend of $1.88 and a yield of 2.4%.
Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) CEO David Maura bought 2,500 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer owned 790,708 shares of the company's stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Spectrum Brands Stock Performance
Shares of SPB stock opened at $78.49 on Friday. 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 business has a 50 day moving average of $78.00 and a two-hundred day moving average of $69.22. Spectrum Brands Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $86.96. The company has a market cap of $1.82 billion, a P/E ratio of 14.98, a PEG ratio of 2.37 and a beta of 0.67.
Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $676.45 million. During the same period in the previous year, the firm posted $0.68 earnings per share. Spectrum Brands's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.
Spectrum Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 26th. Spectrum Brands's payout ratio is 35.88%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Weiss Ratings raised Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Canaccord Genuity Group lifted their price target on Spectrum Brands from $94.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 8th. Royal Bank Of Canada set a $85.00 price target on Spectrum Brands in a report on Friday, February 6th. Finally, Oppenheimer lifted their price target on Spectrum Brands from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.20.
Get Our Latest Stock Analysis on SPB
Institutional Investors Weigh In On Spectrum Brands
A number of institutional investors have recently added to or reduced their stakes in SPB. Northwestern Mutual Wealth Management Co. lifted its position in Spectrum Brands by 374,119.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company's stock worth $129,779,000 after purchasing an additional 2,196,079 shares during the period. Pzena Investment Management LLC lifted its position in Spectrum Brands by 66.8% in the third quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company's stock worth $129,197,000 after purchasing an additional 985,034 shares during the period. Callodine Capital Management LP lifted its position in Spectrum Brands by 26.7% in the third quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company's stock worth $90,087,000 after purchasing an additional 360,898 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Spectrum Brands in the second quarter worth approximately $15,409,000. Finally, American Century Companies Inc. lifted its position in Spectrum Brands by 14.5% in the third quarter. American Century Companies Inc. now owns 2,052,850 shares of the company's stock worth $107,836,000 after purchasing an additional 260,085 shares during the period.
Spectrum Brands Company Profile
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Get Free Report)
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.
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