Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO Sells $4,324,980.00 in Stock

Spectrum Brands Holdings, Inc. (NYSE:SPB) CEO David M. Maura sold 66,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the sale, the chief executive officer now directly owns 723,607 shares in the company, valued at $47,417,966.71. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Spectrum Brands Trading Up 1.5%

Shares of SPB opened at $65.50 on Monday. Spectrum Brands Holdings, Inc. has a 52-week low of $56.50 and a 52-week high of $96.62. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average is $65.18 and its two-hundred day moving average is $78.23. The stock has a market cap of $1.64 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

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

Spectrum Brands Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.87%. Spectrum Brands’s dividend payout ratio (DPR) is presently 89.95%.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in Spectrum Brands during the 4th quarter worth $50,000. Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after acquiring an additional 489 shares during the period. Blue Trust Inc. raised its holdings 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 acquiring an additional 375 shares during the period. KBC Group NV raised its holdings 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 acquiring an additional 390 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after acquiring an additional 692 shares during the period.

Analyst Ratings Changes

SPB has been the topic of a number of research analyst reports. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Royal Bank of Canada dropped their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Monness Crespi & Hardt dropped their price target on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. UBS Group lifted their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

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.