Spectrum Brands Holdings Inc (NYSE:SPB)’s share price shot up 12.8% on Wednesday . The company traded as high as $31.03 and last traded at $34.15, 22,382 shares were traded during trading. A decline of 97% from the average session volume of 739,622 shares. The stock had previously closed at $30.28.
A number of research firms have recently weighed in on SPB. Oppenheimer raised Spectrum Brands from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Monday, December 16th. Cfra lowered Spectrum Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $30.00 in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Spectrum Brands has a consensus rating of “Hold” and an average price target of $61.14.
The business has a 50-day moving average price of $51.21 and a two-hundred day moving average price of $56.14. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 1.58. The firm has a market cap of $1.39 billion, a PE ratio of 3.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.81.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 18th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, February 14th. Spectrum Brands’s dividend payout ratio (DPR) is presently 58.74%.
In other Spectrum Brands news, CEO David M. Maura bought 16,709 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $59.84 per share, with a total value of $999,866.56. Following the completion of the acquisition, the chief executive officer now directly owns 387,857 shares of the company’s stock, valued at approximately $23,209,362.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy W. Smeltser bought 8,305 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $60.17 per share, for a total transaction of $499,711.85. Following the acquisition, the chief financial officer now directly owns 8,182 shares of the company’s stock, valued at $492,310.94. The disclosure for this purchase can be found here. Corporate insiders own 0.16% of the company’s stock.
A number of large investors have recently bought and sold shares of SPB. Pzena Investment Management LLC boosted its stake in Spectrum Brands by 33.1% in the fourth quarter. Pzena Investment Management LLC now owns 1,434,888 shares of the company’s stock valued at $92,249,000 after acquiring an additional 356,921 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Spectrum Brands by 29.9% in the fourth quarter. Teacher Retirement System of Texas now owns 1,097,534 shares of the company’s stock valued at $70,560,000 after acquiring an additional 252,913 shares in the last quarter. State Street Corp boosted its stake in Spectrum Brands by 35.4% in the third quarter. State Street Corp now owns 784,576 shares of the company’s stock valued at $41,363,000 after acquiring an additional 204,960 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Spectrum Brands by 48.9% in the fourth quarter. Macquarie Group Ltd. now owns 648,810 shares of the company’s stock valued at $41,712,000 after acquiring an additional 213,128 shares in the last quarter. Finally, Norges Bank acquired a new position in Spectrum Brands in the fourth quarter valued at $29,235,000.
Spectrum Brands Company Profile (NYSE:SPB)
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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