Spectrum Brands (NYSE:SPB) Reaches New 1-Year High – What’s Next?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $87.09 and last traded at $86.8650, with a volume of 89511 shares traded. The stock had previously closed at $83.47.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Spectrum Brands Stock Up 2.9%

The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $80.89 and a 200-day moving average price of $73.21. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.62 and a beta of 0.65.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data 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 net margin of 4.47% and a return on equity of 8.23%. The firm had revenue of $708.90 million for the quarter, compared to analysts’ expectations of $676.45 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio is 35.88%.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in shares of Spectrum Brands by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after buying an additional 140 shares during the last quarter. Federated Hermes Inc. grew its stake in Spectrum Brands by 1.3% in the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after acquiring an additional 157 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Spectrum Brands by 58.2% during the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock worth $73,000 after purchasing an additional 455 shares during the period.

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.