Spectrum Brands Holdings Inc (NYSE:SPB) Short Interest Update
Spectrum Brands Holdings Inc (NYSE:SPB) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,080,000 shares, a decrease of 6.8% from the December 15th total of 4,380,000 shares. Currently, 9.4% of the shares of the stock are short sold. Based on an average daily volume of 591,500 shares, the days-to-cover ratio is currently 6.9 days.
In other news, CEO David M. Maura purchased 2,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $62.73 per share, for a total transaction of $125,460.00. Following the completion of the transaction, the chief executive officer now directly owns 371,148 shares in the company, valued at approximately $23,282,114.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in Spectrum Brands during the third quarter valued at $26,000. Strs Ohio raised its stake in Spectrum Brands by 11,360.0% during the third quarter. Strs Ohio now owns 573 shares of the company’s stock valued at $30,000 after purchasing an additional 568 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Spectrum Brands during the third quarter valued at $37,000. Dupont Capital Management Corp purchased a new stake in Spectrum Brands during the third quarter valued at $39,000. Finally, IMA Wealth Inc. purchased a new stake in Spectrum Brands during the third quarter valued at $46,000.
Spectrum Brands (NYSE:SPB) last issued its earnings results on Wednesday, November 13th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.04. Spectrum Brands had a net margin of 12.32% and a return on equity of 7.17%. The firm had revenue of $993.00 million during the quarter, compared to analyst estimates of $990.38 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. Spectrum Brands’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts expect that Spectrum Brands will post 3.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, November 25th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, November 22nd. Spectrum Brands’s payout ratio is 58.74%.
A number of equities analysts recently weighed in on SPB shares. ValuEngine lowered shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. Wells Fargo & Co dropped their target price on shares of Spectrum Brands from $53.00 to $52.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Finally, Oppenheimer upgraded shares of Spectrum Brands from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $66.14.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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