Spectrum Brands Holdings Inc (NYSE:SPB) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,740,000 shares, a decline of 11.6% from the September 30th total of 4,230,000 shares. Based on an average daily trading volume, of 489,700 shares, the short-interest ratio is presently 7.6 days. Approximately 8.8% of the company’s stock are short sold.
Shares of Spectrum Brands stock traded up $1.25 during trading on Friday, reaching $61.79. The company’s stock had a trading volume of 817,383 shares, compared to its average volume of 559,399. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.84 and a current ratio of 1.45. The business’s fifty day moving average price is $51.11 and its 200-day moving average price is $54.33. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.75 and a beta of 1.74. Spectrum Brands has a one year low of $40.54 and a one year high of $66.50.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $990.38 million. Spectrum Brands had a return on equity of 7.18% and a net margin of 12.32%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that Spectrum Brands will post 3.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. Spectrum Brands’s dividend payout ratio (DPR) is presently 58.74%.
A number of analysts have weighed in on the company. Wells Fargo & Co reduced their price target on 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. Deutsche Bank reduced their price target on Spectrum Brands from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Raymond James reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Spectrum Brands in a research report on Friday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $68.00 price target on shares of Spectrum Brands in a research report on Sunday, August 11th. Finally, ValuEngine cut Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $55.28.
Several large investors have recently modified their holdings of the company. Pzena Investment Management LLC grew its holdings 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 purchasing an additional 362,237 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Spectrum Brands by 52.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 844,621 shares of the company’s stock valued at $44,528,000 after buying an additional 291,778 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Spectrum Brands in the 2nd quarter valued at $23,659,000. Macquarie Group Ltd. increased its position in shares of Spectrum Brands by 0.7% in the 2nd quarter. Macquarie Group Ltd. now owns 416,635 shares of the company’s stock valued at $22,402,000 after buying an additional 2,700 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Spectrum Brands by 36.7% in the 3rd quarter. First Trust Advisors LP now owns 277,303 shares of the company’s stock valued at $14,619,000 after buying an additional 74,452 shares in the last quarter.
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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