Short Interest in Spectrum Brands Holdings, Inc. (NYSE:SPB) Expands By 21.1%

Spectrum Brands Holdings, Inc. (NYSE:SPB) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 1,550,000 shares, an increase of 21.1% from the January 31st total of 1,280,000 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily volume of 416,000 shares, the short-interest ratio is currently 3.7 days.

Spectrum Brands Stock Up 0.6 %

SPB stock traded up $0.44 during trading on Thursday, reaching $74.41. 414,958 shares of the stock were exchanged, compared to its average volume of 456,208. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. Spectrum Brands has a twelve month low of $73.12 and a twelve month high of $96.74. The firm’s 50 day moving average is $81.73 and its 200 day moving average is $87.97. The firm has a market cap of $1.96 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, research analysts forecast that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.53%. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Analyst Ratings Changes

Several equities research analysts have commented on SPB shares. Royal Bank of Canada cut their target price 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. UBS Group dropped their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.43.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently bought and sold shares of SPB. Pzena Investment Management LLC boosted its holdings in Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock worth $112,654,000 after purchasing an additional 22,484 shares during the last quarter. State Street Corp boosted its stake in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 shares during the last quarter. Callodine Capital Management LP grew its holdings in shares of Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock valued at $44,568,000 after acquiring an additional 121,000 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after acquiring an additional 36,063 shares during the last quarter. Finally, FIL Ltd increased its holdings in Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company’s stock worth $38,998,000 after buying an additional 36,798 shares during the last quarter.

About Spectrum Brands

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.