Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO Sells $330,328.60 in Stock

Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO David M. Maura sold 5,180 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total value of $330,328.60. Following the transaction, the chief executive officer now owns 718,427 shares in the company, valued at approximately $45,814,089.79. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Spectrum Brands Trading Up 1.5%

NYSE:SPB opened at $65.50 on Monday. The business’s 50-day simple moving average is $65.18 and its 200 day simple moving average is $78.23. Spectrum Brands Holdings, Inc. has a one year low of $56.50 and a one year high of $96.62. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data 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). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. During the same quarter in the previous year, the company earned $1.62 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, May 27th. Spectrum Brands’s payout ratio is currently 89.95%.

Analyst Ratings Changes

A number of brokerages have commented on SPB. Wells Fargo & Company reduced their price objective on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. UBS Group boosted their price target on Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Monness Crespi & Hardt cut their price target on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Royal Bank of Canada cut their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.17.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently bought and sold shares of SPB. Barclays PLC raised its stake in Spectrum Brands by 71.4% during the third quarter. Barclays PLC now owns 35,407 shares of the company’s stock valued at $3,369,000 after buying an additional 14,746 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Spectrum Brands by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 14,792 shares of the company’s stock worth $1,356,000 after purchasing an additional 381 shares during the period. SG Americas Securities LLC raised its position in shares of Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after purchasing an additional 11,166 shares during the period. Blue Trust Inc. raised its position in shares of Spectrum Brands by 46.5% during the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock worth $100,000 after purchasing an additional 375 shares during the period. Finally, KBC Group NV raised its position in shares of Spectrum Brands by 46.3% during the 4th quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after purchasing an additional 390 shares during the period.

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.