Spectrum Brands Holdings Inc (NYSE:SPB) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 3,680,200 shares, an increase of 9.2% from the July 31st total of 3,370,600 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average trading volume of 394,400 shares, the days-to-cover ratio is currently 9.3 days.
NYSE SPB traded down $0.53 during mid-day trading on Friday, hitting $60.03. The stock had a trading volume of 192,260 shares, compared to its average volume of 271,574. Spectrum Brands has a 52-week low of $40.54 and a 52-week high of $83.62. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 3.73 and a beta of 1.74. The company has a 50 day simple moving average of $52.30 and a 200 day simple moving average of $56.01. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 1.21.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.13. Spectrum Brands had a return on equity of 6.36% and a net margin of 13.21%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $1.76 EPS. Spectrum Brands’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Spectrum Brands will post 2.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 22nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, August 21st. Spectrum Brands’s payout ratio is currently 47.46%.
In related news, insider David M. Maura purchased 20,000 shares of Spectrum Brands stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $50.43 per share, for a total transaction of $1,008,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI purchased a new position in Spectrum Brands in the 1st quarter valued at approximately $99,000. Tower Research Capital LLC TRC purchased a new position in Spectrum Brands in the 2nd quarter valued at approximately $123,000. Hancock Whitney Corp purchased a new position in Spectrum Brands in the 2nd quarter valued at approximately $230,000. Teza Capital Management LLC purchased a new position in Spectrum Brands in the 2nd quarter valued at approximately $263,000. Finally, Keybank National Association OH purchased a new position in Spectrum Brands during the second quarter worth $283,000.
A number of equities analysts have weighed in on SPB shares. Deutsche Bank lowered their price objective on Spectrum Brands from $60.00 to $56.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Co reissued a “hold” rating and set a $53.00 price objective on shares of Spectrum Brands in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $68.00 price objective on shares of Spectrum Brands in a research note on Sunday, August 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.39.
About Spectrum Brands
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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