Spectrum Brands (NYSE:SPB) Trading Down 5.1%
Spectrum Brands Holdings Inc (NYSE:SPB) fell 5.1% on Tuesday . The company traded as low as $53.08 and last traded at $53.56, 578,433 shares were traded during trading. An increase of 21% from the average session volume of 477,939 shares. The stock had previously closed at $56.41.
A number of research firms have weighed in on SPB. Deutsche Bank decreased their price objective on Spectrum Brands from $60.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Co reaffirmed a “hold” rating and set a $53.00 price objective on shares of Spectrum Brands in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $68.00 target price on shares of Spectrum Brands in a report on Sunday, August 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $55.39.
The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 3.72 and a beta of 1.73. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 1.21. The firm has a fifty day moving average price of $52.74 and a 200 day moving average price of $56.09.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Wednesday, August 21st. Spectrum Brands’s payout ratio is currently 47.46%.
In other Spectrum Brands news, insider David M. Maura bought 20,000 shares of Spectrum Brands stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $50.43 per share, with a total value of $1,008,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in Spectrum Brands by 14.3% during the 1st quarter. FMR LLC now owns 7,895,443 shares of the company’s stock worth $432,511,000 after buying an additional 986,101 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Spectrum Brands by 59.4% during the 2nd quarter. Pzena Investment Management LLC now owns 971,972 shares of the company’s stock valued at $52,263,000 after acquiring an additional 362,237 shares during the last quarter. Moerus Capital Management LLC raised its position in shares of Spectrum Brands by 29.2% during the 1st quarter. Moerus Capital Management LLC now owns 637,688 shares of the company’s stock valued at $34,933,000 after acquiring an additional 144,053 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Spectrum Brands by 69.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 552,843 shares of the company’s stock valued at $29,726,000 after acquiring an additional 226,319 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Spectrum Brands during the 2nd quarter valued at $23,659,000.
About Spectrum Brands (NYSE:SPB)
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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