Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO David M. Maura Sells 66,000 Shares

Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO David M. Maura sold 66,000 shares of Spectrum Brands stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the transaction, the chief executive officer now owns 723,607 shares in the company, valued at approximately $47,417,966.71. This represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Spectrum Brands Stock Up 1.5%

Shares of SPB opened at $65.50 on Monday. The stock has a market capitalization of $1.64 billion, a PE ratio of 16.09, a P/E/G ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 1 year low of $56.50 and a 1 year high of $96.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The company’s 50-day simple moving average is $65.18 and its 200-day simple moving average is $78.23.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). The business had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.47 per share. 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 dividend payout ratio is presently 89.95%.

Institutional Trading of Spectrum Brands

Several hedge funds have recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in shares of Spectrum Brands during the first quarter worth about $1,849,000. Goldman Sachs Group Inc. lifted its position 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 worth $28,125,000 after purchasing an additional 114,143 shares in the last quarter. Parkwood LLC lifted its position in shares of Spectrum Brands by 9.9% during the first quarter. Parkwood LLC now owns 137,524 shares of the company’s stock worth $9,840,000 after purchasing an additional 12,406 shares in the last quarter. 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 worth $386,000 after buying 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 worth $11,913,000 after buying an additional 65,424 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPB. UBS Group boosted their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Monness Crespi & Hardt reduced their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Royal Bank of Canada reduced their price objective 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 upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price objective 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.