Spectrum Brands (NYSE:SPB) Hits New 52-Week High – What’s Next?

Spectrum Brands Holdings Inc. (NYSE:SPB) shares hit a new 52-week high on Wednesday . The stock traded as high as $88.47 and last traded at $88.4850, with a volume of 151430 shares trading hands. The stock had previously closed at $84.12.

Wall Street Analyst Weigh In

Several research firms recently commented on SPB. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Wells Fargo & Company lifted their price target 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, Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Trading Up 2.5%

The business’s 50-day moving average price is $81.90 and its 200 day moving average price is $76.26. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping 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 analyst estimates of $676.45 million. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

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

Insider Buying and Selling at Spectrum Brands

In related news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its stake in Spectrum Brands by 35.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,094 shares of the company’s stock valued at $437,000 after buying an additional 1,323 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings 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 acquiring an additional 95,265 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Spectrum Brands by 52.6% during the 1st quarter. Pacer Advisors Inc. now owns 161,213 shares of the company’s stock valued at $11,881,000 after acquiring an additional 55,563 shares in the last quarter. Empowered Funds LLC raised its position in shares of Spectrum Brands by 5.2% during the 1st quarter. Empowered Funds LLC now owns 93,632 shares of the company’s stock valued at $6,901,000 after acquiring an additional 4,612 shares in the last quarter. Finally, Glenmede Trust Co. NA bought a new position in Spectrum Brands during the first quarter worth $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.