Spectrum Brands (NYSE:SPB) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $77.09 and traded as high as $89.45. Spectrum Brands shares last traded at $89.1950, with a volume of 235,650 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Spectrum Brands Trading Up 1.7%

The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.04 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The company has a fifty day simple moving average of $82.74 and a two-hundred day simple moving average of $77.28.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

Insiders Place Their Bets

In related news, CEO David M. Maura purchased 2,500 shares of Spectrum Brands stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its position in Spectrum Brands by 35.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,094 shares of the company’s stock valued at $437,000 after acquiring an additional 1,323 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Spectrum Brands by 437.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 117,055 shares of the company’s stock valued at $10,037,000 after purchasing an additional 95,265 shares during the period. Pacer Advisors Inc. raised its stake in shares of Spectrum Brands by 52.6% in the 1st quarter. Pacer Advisors Inc. now owns 161,213 shares of the company’s stock valued at $11,881,000 after purchasing an additional 55,563 shares during the period. Empowered Funds LLC lifted its holdings in shares of Spectrum Brands by 5.2% in the first quarter. Empowered Funds LLC now owns 93,632 shares of the company’s stock valued at $6,901,000 after purchasing an additional 4,612 shares in the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in shares of Spectrum Brands in the first quarter valued at about $311,000.

About Spectrum Brands

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.