Insider Buying: Spectrum Brands (NYSE:SPB) CEO Buys 2,500 Shares of Stock

Spectrum Brands Holdings Inc. (NYSE:SPB) CEO David Maura purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Spectrum Brands Stock Up 3.5%

Shares of NYSE SPB traded up $2.66 during mid-day trading on Friday, reaching $78.19. 192,358 shares of the company traded hands, compared to its average volume of 365,839. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The stock has a market cap of $1.81 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.34 and a beta of 0.67. The company’s fifty day moving average is $77.97 and its two-hundred day moving average is $69.16. Spectrum Brands Holdings Inc. has a fifty-two week low of $49.99 and a fifty-two week high of $86.96.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. The business had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands’s dividend payout ratio (DPR) is 35.88%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPB. Canaccord Genuity Group raised their target price on Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada set a $85.00 target price on Spectrum Brands in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a report on Friday, May 8th. Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Oppenheimer lifted their price objective on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.20.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after buying an additional 260,085 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company’s stock worth $1,188,000 after buying an additional 10,605 shares during the period. Rovida Advisors Inc. lifted its position in shares of Spectrum Brands by 1,140.4% during the 3rd quarter. Rovida Advisors Inc. now owns 60,000 shares of the company’s stock worth $3,150,000 after buying an additional 55,163 shares during the period. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Spectrum Brands by 91.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 47,935 shares of the company’s stock worth $2,832,000 after buying an additional 22,935 shares during the period. Finally, Manning & Napier Advisors LLC lifted its position in shares of Spectrum Brands by 9.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock worth $17,724,000 after buying an additional 25,000 shares during the period.

Spectrum Brands Company Profile

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.