Insider Buying: Spectrum Brands (NYSE:SPB) CEO Purchases 2,500 Shares of Stock

Spectrum Brands Holdings Inc. (NYSE:SPB) CEO David Maura acquired 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares in the company, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Spectrum Brands Price Performance

SPB traded up $2.66 during trading on Friday, hitting $78.19. The company’s stock had a trading volume of 192,358 shares, compared to its average volume of 365,839. The firm’s 50 day moving average price is $77.97 and its two-hundred day moving average price is $69.16. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $86.96. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.34 and a beta of 0.67.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be given a $0.47 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 annualized dividend and a yield of 2.4%. Spectrum Brands’s payout ratio is presently 35.88%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPB. Oppenheimer boosted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wells Fargo & Company boosted their target price on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Canaccord Genuity Group boosted their target price on Spectrum Brands from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

Institutional Trading of Spectrum Brands

Several large investors have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in shares of Spectrum Brands in the 1st quarter valued at about $2,224,000. California State Teachers Retirement System grew its stake in shares of Spectrum Brands by 17.8% in the 1st quarter. California State Teachers Retirement System now owns 25,279 shares of the company’s stock valued at $1,863,000 after buying an additional 3,813 shares during the period. Empowered Funds LLC grew its stake in shares of Spectrum Brands by 5.2% in the 1st quarter. Empowered Funds LLC now owns 93,632 shares of the company’s stock valued at $6,901,000 after buying an additional 4,612 shares during the period. Maverick Capital Ltd. grew its stake in shares of Spectrum Brands by 31.5% in the 1st quarter. Maverick Capital Ltd. now owns 67,826 shares of the company’s stock valued at $4,999,000 after buying an additional 16,238 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in shares of Spectrum Brands by 37.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 32,050 shares of the company’s stock valued at $2,362,000 after buying an additional 8,783 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.